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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
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- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Sical Logistics Limited - India
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