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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
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