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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, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
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