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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
.jpg) The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much higher. The Baltic Dry Index move forward to surpass the 3,000-point once again and end the week at 3,009 points. According to Weberseas’ latest weekly report “improving rates are pushing the indices upwards albeit at a steadier pace. All the market indices have finished the week positively with increases between 1-4%” said the report.
It further added that no doubt there is solid demand from China and coupled with the continued congestion around the world's main loading/discharging ports we are seeing a supply/demand imbalance. “Worldwide congestion currently stands at around 31 million deadweight. Australia and Brazil are accounting for about one third of this. At Australia's loading ports there are 5.7 million deadweight of ships waiting (half of which are panamax bulkers with 40 odd of these ships stuck in waiting). The figure is slightly less in Brazil at 4.7 mill deadweight” said Weberseas.
As the talks continue between the Chinese steel mills and the major mining producers (BHP Billiton, Rio Tinto and Vale) more and more of the Chinese importation is done via spot fixtures from other areas with India getting the lion's share. This means that supramax and panamax bulkers are benefiting and presently experiencing strong freight numbers. Panamax bulkers seem to be benefiting the most at the moment from the congestion and we are seeing the BPI standing at a 25% premium over the BCI (4,034 and 3,071 respectively). Both the supramax and panamax segments have also been assisted by the good grain trading volumes.
But brokers remained cautious, as their primary concern is the fact that rising iron ore prices could hurt demand and hit cargo activity. Iron ore prices in Asia were rising throughout the week, continuing a rally that started last month, with high grade ores at their highest since August 2008, Reuters said in a report, adding that China has been buying Indian iron ore, shipped using supramaxes, bolstering rates on the smaller vessel market.
Analysts from Commodore Research indicated in another update on Chinese commodity demand that China’s restrictions on iron ore imports have forced spot ore prices to increase sharply. Chinese iron ore fixtures have remained relatively firm this week, ore fixtures were very low yesterday and on Monday - but today they have increased. Chinese ore demand continues to remain firm, and, so far, importers are not truly heading a call to boycott Australian and Brazilian iron ore. Spot Indian iron ore prices have increased to approximately $146/ton FOB, an increase of $22 (18%) from April 5.
Omar Nokta of Dahlman Rose stated that if the quoted Vale price is accurate, the dry bulk market could see significant upside in the coming weeks, as $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
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