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Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
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