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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- The University of Queensland
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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