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