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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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Sunday, 31 July 11
CAPES ARE TRADING BELOW $ 9500 PER DAY - VISTAAR
COALspot.com - The BDI further softened by 4.46 pct and closed at 1264 points which touched below 1300 points after long time. The Cape and Panamax ...
Friday, 29 July 11
5300 ADB COAL WILL BE AT US$ 60/TON IN THIS QUARTER - RAIN
COALspot.com - PT Resource Alam Indonesia Tbk (KKGI) seeing the average selling price of its coal for the third quarter of this year will increase t ...
Thursday, 28 July 11
PTBA'S COAL PRICES UP IN H1 2011
COALspot.com - Bukit Asam’s coal prices in the second half of 2011 will expected to be higher than the first half of this year, said Sukrisno, ...
Thursday, 28 July 11
RESOURCE ALAM 1H PROFIT SURGES 208 PERCENT
Indonesia's tenth largest coal miner in term of concessions, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net ...
Thursday, 28 July 11
DRY BULK MARKET EDGES FURTHER DOWN ON ADDED PRESSURE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Baltic Dry Index (BDI), an indicator of dry bulk freight rates has reached new lows this week, with yesterday’s session ending further dow ...
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- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- VISA Power Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
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