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