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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
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