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