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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
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