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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, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
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