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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, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
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