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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
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