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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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Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
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