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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- The University of Queensland
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
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