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