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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
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