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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
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