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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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Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
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- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
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- Sical Logistics Limited - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
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