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