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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, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
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- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
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