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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
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