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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
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