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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, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
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