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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
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