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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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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
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