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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, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
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- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
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