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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
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- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
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- Central Java Power - Indonesia
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- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
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- Orica Australia Pty. Ltd.
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- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- The University of Queensland
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
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