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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- ASAPP Information Group - India
- The University of Queensland
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
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