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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
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