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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
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