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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
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