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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Australian Coal Association
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Interocean Group of Companies - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
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