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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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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Australian Coal Association
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Planning Commission, India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
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