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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Ministry of Mines - Canada
- The University of Queensland
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
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- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
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- Thiess Contractors Indonesia
- GMR Energy Limited - India
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- White Energy Company Limited
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- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Australian Coal Association
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
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- Jaiprakash Power Ventures ltd
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- Bhatia International Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
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- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Planning Commission, India
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- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
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- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
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- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
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- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
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