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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Ambuja Cements Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
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