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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, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
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