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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
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