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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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Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
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