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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, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
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- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- White Energy Company Limited
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
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