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