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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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Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- Renaissance Capital - South Africa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- The University of Queensland
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Siam City Cement - Thailand
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
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