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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
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