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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Australian Coal Association
- The Treasury - Australian Government
- The University of Queensland
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
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