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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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Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Australian Coal Association
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
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