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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
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- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- London Commodity Brokers - England
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