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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 15 September 11
INDIAN GOVT PLANS TO DEVELOP 9 NEW MAJOR PORTS BY 2016 - INVEST MONEY / HELLENIC SHIPPING
The government has announced to make a investment of more than Rs 22,000 crore (approximately US$ 4,623,791,331) to develop nine new major ...
Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
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- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Australian Coal Association
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
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