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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, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
Wednesday, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
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- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- The University of Queensland
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
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