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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
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