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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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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- The Treasury - Australian Government
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
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