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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Planning Commission, India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
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