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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
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