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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 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Planning Commission, India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
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