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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, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
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