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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, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- White Energy Company Limited
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
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