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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Australian Coal Association
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
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