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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
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- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
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- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
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- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
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- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
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- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
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