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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
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