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