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