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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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Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
Thursday, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
Handy
Pacific market has mixed sentiments with tonnages fixed at firm levels and some tonnages in feast failing on subs.For indo-india, large eco ...
Thursday, 27 October 11
DRY BULK MARKET EDGES DOWN AS CHINAS IRON ORE DEMAND LOSES GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A plunge in Chinese iron ore demand, as a result of high steel inventories and a bleak outlook regarding steel prices, has prompted the dry bulk mar ...
Thursday, 27 October 11
BUKIT ASAM 3Q PROFIT SURGES 66.91%
Insider Stories reported that, the state-controlled coal miner PT Bukit Asam Tbk (PTBA) experienced a 66.91% increase in its net profit during a per ...
Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
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- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- The University of Queensland
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
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