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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, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
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