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