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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Thursday, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
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- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- The University of Queensland
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
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