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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, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
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