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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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Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- London Commodity Brokers - England
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
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