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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
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