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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
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- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
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