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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- The University of Queensland
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
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