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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, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
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