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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
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