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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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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
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