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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, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
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- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Australian Coal Association
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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