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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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Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
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- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
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