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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, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
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