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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, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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