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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
Sunday, 28 August 11
FREIGHT MARKET COULD BE FIRM NEXT MONTH - VISTAAR
COALspot.com - The freight market continued the upward trend first half of the week . However, towards the end of the week lost momentum and the BDI ...
Saturday, 27 August 11
JAPANESE BULK CARRIER SETS RECORD ON NORTHERN SEA ROUTE - BARENTS OBSERVER
The Northern Sea Route will see its third record in less than a month when the largest ever bulk carrier to take the route leaves Murmansk next week ...
Saturday, 27 August 11
RBCT-INDIA ROUNDS FIXED AT AROUND US$ 12K - FEARNBULK
Handy
Stable but very positional markets across all segments in the Atlantic: the gap between owners and charterers rate ideas is building up as o ...
Friday, 26 August 11
TUAH TURANGGA AGUNG ACQUIRES AN ADDITIONAL 40% SHARES IN BARA PRIMA AGUNG
COALspot.com - PT Tuah Turangga Agung, a subsidiary of PT United Tractors Tbk, has signed an acquisition agreement to acquire 40% of PT Bara Prima A ...
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- Baramulti Group, Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- White Energy Company Limited
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
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