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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- VISA Power Limited - India
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- Eastern Coal Council - USA
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- MS Steel International - UAE
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- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
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- Wilmar Investment Holdings
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- Price Waterhouse Coopers - Russia
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- Parliament of New Zealand
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- The Treasury - Australian Government
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- Sarangani Energy Corporation, Philippines
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- Anglo American - United Kingdom
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- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
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- Thai Mozambique Logistica
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- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
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- Georgia Ports Authority, United States
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
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- Timah Investasi Mineral - Indoneisa
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- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
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- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
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- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
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