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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
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- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
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