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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
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