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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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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- The University of Queensland
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- White Energy Company Limited
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
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