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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, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
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- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
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- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
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- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
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- Bhatia International Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
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- Indo Tambangraya Megah - Indonesia
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- Price Waterhouse Coopers - Russia
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- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
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- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
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