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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, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
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