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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, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
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- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Minerals Council of Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
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