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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Australian Coal Association
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
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