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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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Thursday, 29 October 09
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- VISA Power Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
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