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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
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