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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, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
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