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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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Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
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- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- The University of Queensland
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
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