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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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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Vedanta Resources Plc - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
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