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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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