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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, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
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- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Parliament of New Zealand
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
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