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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- The University of Queensland
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
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