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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Agrawal Coal Company - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
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