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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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Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
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