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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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- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
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