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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, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
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- Eastern Energy - Thailand
- Planning Commission, India
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- Mercator Lines Limited - India
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- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
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- Global Business Power Corporation, Philippines
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- Kapuas Tunggal Persada - Indonesia
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- CIMB Investment Bank - Malaysia
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- Ministry of Mines - Canada
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- Indian Oil Corporation Limited
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- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
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- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
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- Petron Corporation, Philippines
- India Bulls Power Limited - India
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- Romanian Commodities Exchange
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- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
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- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
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- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
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- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Minerals Council of Australia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
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- International Coal Ventures Pvt Ltd - India
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- Star Paper Mills Limited - India
- Independent Power Producers Association of India
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- Latin American Coal - Colombia
- Wilmar Investment Holdings
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- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
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- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
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- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
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- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
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- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
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- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
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