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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- The University of Queensland
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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