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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- The University of Queensland
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
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