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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, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
Friday, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
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- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
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