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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
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