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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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
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