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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
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