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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
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