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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- London Commodity Brokers - England
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