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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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- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Videocon Industries ltd - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
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