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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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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Australian Coal Association
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
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