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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
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- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Planning Commission, India
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- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
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- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
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- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
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- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Bhatia International Limited - India
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