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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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Friday, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- PTC India Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
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