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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, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
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- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
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- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- GMR Energy Limited - India
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- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
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- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
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- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
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- Mercator Lines Limited - India
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- VISA Power Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
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- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
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