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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Anglo American - United Kingdom
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
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