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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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Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Parliament of New Zealand
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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