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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
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