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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
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