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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Australian Coal Association
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- The University of Queensland
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
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