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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bhatia International Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- ASAPP Information Group - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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