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