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