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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, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
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- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
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