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