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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
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