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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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Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
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- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
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