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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
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