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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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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
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