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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- VISA Power Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
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