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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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Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
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