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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, 18 March 10
COAL PILING UP AT EAST COAST PORTS ON RAKE SHORTAGE
Business Line reported that, more than three million tonnes (mt) of imported coal are awaiting evacuation at the east coast ports of Paradip, Visakh ...
Tuesday, 16 March 10
INDONESIA ROUND VOYAGES WERE GETTING BETWEEN HIGH TEENS - BRS
Another strong week for the bulk market and rates in all segments are now back above pre-Chinese New Year levels. Atlantic volumes remain robust, an ...
Tuesday, 16 March 10
MADHUCON GETS MINING LICENSE IN INDONESIA
Business-Standard reported that, PT Madhucon Indonesia, a subsidiary of the Hyderabad-based infrastructure company Madhucon Projects Ltd, has been g ...
Monday, 15 March 10
BOB KAMANDANU ON INDONESIAS PEAK COAL PRODUCTION, ENERGY SECURITY AND EXPORTS TO INDIA
Bob Kamandanu, the chairman of Indonesian Coal Producers Association (APBI), said the country has an estimated 50 to 70 years of coal reserves.
T ...
Monday, 15 March 10
CIL BOARD CLEARS 10 PROPOSALS FOR STRATEGIC PARTNERSHIP OR JVS
Economic Times reported that, Towards achieving a global footprint, state-owned Coal India (CIL) is eyeing strategic partnership or joint ventures w ...
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- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Parliament of New Zealand
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- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
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- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
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