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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
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