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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
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