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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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
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- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
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