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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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Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
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- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Planning Commission, India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Ministry of Transport, Egypt
- The University of Queensland
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
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