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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, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
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