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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, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
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