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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Aditya Birla Group - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
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