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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
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