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