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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
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