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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
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