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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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...
Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...
Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...
Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...
Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...
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- Bhushan Steel Limited - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Central Electricity Authority - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- White Energy Company Limited
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
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