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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, 19 August 11
AUSTRALIAS' ATH TO ACQUIRE 60% OF APUAH COAL MINE IN INDONESIA
COALspot.com - Australian listed company, Atech Holdings Limited (ATH) has entered into a conditional binding term sheet to acquire 60 percent stake ...
Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
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- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
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