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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
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