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