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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, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
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