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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- MS Steel International - UAE
- Minerals Council of Australia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
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