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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- VISA Power Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
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