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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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- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- The Treasury - Australian Government
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
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