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