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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
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