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