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