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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Asmin Koalindo Tuhup - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
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- Bangladesh Power Developement Board
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- Port Waratah Coal Services - Australia
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- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
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- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
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- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
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- Trasteel International SA, Italy
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- White Energy Company Limited
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- LBH Netherlands Bv - Netherlands
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- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
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- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Parliament of New Zealand
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- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- New Zealand Coal & Carbon
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- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
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