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