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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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Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- White Energy Company Limited
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
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