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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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Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- The University of Queensland
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- White Energy Company Limited
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
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