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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, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
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- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
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- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
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