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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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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Indian Energy Exchange, India
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