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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
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