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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
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