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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
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