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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 $100 would represent a significant discount to current spot prices. "With more stability and increased visibility into iron ore pricing, the dry bulk market can begin to better reflect the stronger environment across the global industrial complex", Nokta said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
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- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
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