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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, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Australian Coal Association
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Planning Commission, India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- PTC India Limited - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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