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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Chettinad Cement Corporation Ltd - India
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- International Coal Ventures Pvt Ltd - India
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- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- The University of Queensland
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- San Jose City I Power Corp, Philippines
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- Therma Luzon, Inc, Philippines
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- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
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- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
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- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
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- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
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- Central Electricity Authority - India
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- The State Trading Corporation of India Ltd
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- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
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- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
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- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
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- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
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- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
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- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
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- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
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- Global Business Power Corporation, Philippines
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- Bhatia International Limited - India
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