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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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Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
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- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
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