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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
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