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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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Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
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