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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
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- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
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- Global Coal Blending Company Limited - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
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- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
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- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
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- Anglo American - United Kingdom
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- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
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- Rashtriya Ispat Nigam Limited - India
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- Bukit Asam (Persero) Tbk - Indonesia
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- Australian Coal Association
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- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
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- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Commonwealth Bank - Australia
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- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
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- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
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