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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
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