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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
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- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- India Bulls Power Limited - India
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- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
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- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Australian Coal Association
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
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