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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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Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
Tuesday, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
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- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
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