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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
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