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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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Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
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- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
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