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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, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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