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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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- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Planning Commission, India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
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