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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
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