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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, 08 October 09
MINING TO ATTRACT $6B: BKPM
The Jakarta Post reported that, Indonesia’s mining sector could expect investment of up to US$6 billion in the 2010-2012 period, in part becau ...
Thursday, 08 October 09
INDIA DEMAND TO HELP DIRE COAL OUTLOOK - MACQUARIE
Reuters reported that, Macquarie Securities said on Wednesday its bearish short-term outlook on thermal coal may begin improving in a year's time o ...
Thursday, 08 October 09
ESSAR UNIT WINS INR 479 CR (US$ 103,272,401) ORISSA PROJECT
The firm will develop and operate the terminal at Paradip port; the contract will stretch up to 30 years
Live Mint reported that, Essar Shipping ...
Wednesday, 07 October 09
ESSAR, JINDAL IN TAKEOVER TUSSLE FOR AUSTRALIAN COAL MINER
Reuters reported that, Privately owned Essar Group has launched a surprise A$144.2 million ($128.1 million) bid for Australian coal minnow Rocklands ...
Wednesday, 07 October 09
ADARO SECURES $500 M LOAN
The Jakarta Post reported that, The country's second largest coal producer, PT Adaro Energy announced on Wednesday that it has secured US$500 milli ...
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- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- The University of Queensland
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
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