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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
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