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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Indika Energy - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
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