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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
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