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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, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
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