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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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Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- The University of Queensland
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
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