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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
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