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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- MS Steel International - UAE
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