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