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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
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