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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, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
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- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
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