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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, 01 March 12
BUKIT ASAM TARGETS EUROPEAN INVESTORS
COALspot.com - PT. Bukit Asam (persero) Tbk, Indonesian state owned coal miner is planning to conduct road show in Europe next week to target at Eur ...
Thursday, 01 March 12
INDO-INDIA, LARGE ECO SUPRA CAN FETCH CLOSE TO USD 9K DOP N.CHINA - FEARNLEYS AS
Handy
The Atlantic Handysize market did not see any signs for recovery this week. It is still a major lack of spot cargoes and an oversupply of pro ...
Wednesday, 29 February 12
69 MINERS AGREE TO RENEGOTIATE CONTRACTS - THE JAKARTA POST
The Jakarta Post, one of the leading English news papaer in Indonesia reported that, as many as 60 coal contracts-of-work (PKP2B) and nine non-coal ...
Wednesday, 29 February 12
PUTTING COAL GASIFICATION TO WORK
Clifford Reese of the SSOE Group looks at practical solutions for district energy leaders who wish to implement clean coal technology.
Coal fuels ...
Monday, 27 February 12
COAL MINING PROFITS TOO HIGH, SAYS GOVT - TEMPO INTERACTIVE
Tempo Interactive reported that, Energy and Mineral Resources Deputy Minister of Indonesia Widjajono Partowidagdo has criticized coal-mining compani ...
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- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- The Treasury - Australian Government
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Australian Coal Association
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
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