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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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Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
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- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
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