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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, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- White Energy Company Limited
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
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