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