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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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Monday, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
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