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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- The University of Queensland
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
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