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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, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
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- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
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- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
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- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
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- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
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- Globalindo Alam Lestari - Indonesia
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- Kapuas Tunggal Persada - Indonesia
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- ASAPP Information Group - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Eastern Coal Council - USA
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- Madhucon Powers Ltd - India
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- MS Steel International - UAE
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
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- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
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- Jaiprakash Power Ventures ltd
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- Cement Manufacturers Association - India
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