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Wednesday, 28 April 10
DRY BULK MARKET
 After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Index (BDI) rose yesterday by more than 6% on a daily basis to 3,203 points, with analysts unanimous that stronger iron ore demand from China was the key reason. The BDI now stands at its highest level in more than one month, while reports said yesterday that smaller Chinese steel mills began buying iron ore at quarterly prices agreed by Japan and South Korea, in a move that effectively ends the old benchmark system.
In its weekly report, shipbroker BRS (Barry Rogliano Salles) said that South Africa’s Richards Bay terminal confirmed a sharp rise in Asian exports, which rose to 42% of total shipments in the first quarter of this year, up from 25% a year earlier – due mainly to Chinese and Indian demand.
In Europe, Thyssenkrupp became the first European buyer to confirm it had agreed an iron ore price on a quarterly basis. In line with the Japanese contracts, it also reported a 100% price increase, back-dated to April 1. Commenting on the capesize market prospects, BRS said that the market will continue to watch what impact the new, higher commodity prices will have on demand.
According to brokers quoted by Reuters, high congestion at Brazilian ports had also helped drive rates higher, especially for the larger capesize ships. They added that freight derivatives contract buying had added to the positive momentum. Andrew Dawson, a broker with Freight Investor Services was quoted by the agency saying that "it seems to be a combination of a lack of vessels in the Atlantic and also increased demand from the Chinese. It's iron ore that has driven this push." As a result, capesize vessels, typically the main haulers of iron ore were the principal gainers from yesterday’s upward push in the market. Average earnings rose to $35,109, according to the Baltic Exchange.
In a separate report, JP Morgan Chase & Co. raised its previous estimates on global demand for dry bulk commodities, saying that it will expand by 6 percent in 2010, versus its previous forecast of 3.7 percent. On a similar note, JP Morgan said that it expects iron ore trade growth to reach 11.2%, from an earlier prediction of 5.7%, while coal demand will expand by 5.7%, up from the previous estimate of 3.8%. In other words, the investment bank almost doubled its estimates on global dry bulk trade growth, in what could be translated as a pretty strong sign of the industry’s ability to leap out from the crisis and also face with very increased chances the issue of tonnage oversupply.
On that matter, JP Morgan commented that the increased trade will coincide with half the ships that are scheduled to be built this year being delayed or cancelled, as yards in Asia fail to deliver a record order book on time. “We do not believe that it is even physically possible for the shipyards to meet this robust schedule, with or without financing concerns,” said the report, quoted by Bloomberg.
JPMorgan increased its forecasts for what ships will earn as a result by as much as 33 percent. Panamax ships, the largest to sail through the Panama Canal, will average $21,200 a day this year, up from a previous forecast of $16,000, JPMorgan said. Rates for capesizes, were revised up 3.1 percent to $33,000 a day; supramaxes were increased 22 percent to $17,100 a day, and handymaxes will make $14,700, compared with a prior estimate of $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
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- Planning Commission, India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- The University of Queensland
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
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