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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, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
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- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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