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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
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