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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- London Commodity Brokers - England
- PTC India Limited - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
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