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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Aditya Birla Group - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
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