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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, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
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- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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