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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Indian Energy Exchange, India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
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