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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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- Thai Mozambique Logistica
- London Commodity Brokers - England
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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