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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, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
Thursday, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
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- Parliament of New Zealand
- Economic Council, Georgia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- PTC India Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
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