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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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Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
Monday, 13 September 10
FREIGHT MARKETS MAY BE A BIT SOFT THIS WEEK - VISTAAR SINGAPORE
COALspot.com: The freight market continued its upward trend with the BDI almost touching 3000 points. However the uncertainty seems to continue with ...
Friday, 10 September 10
INDONESIAN RAILWAY CONTRACT STILL UP FOR BIDDING - LOGISTICS WEEK
The tender process for a $2.2bn project to build a coal-transporting railway line in Central Kalimantan province, Indonesia, is still underway and n ...
Friday, 10 September 10
WCI INTO CHINA WITH IRON ORE ARE AIMING AROUND $ 20K - FEARNBULK
Handy
The rates are firm in every corner of the world. However it still looks Atlantic/Baltic/Black Sea offer better employment opportunities for ...
Thursday, 09 September 10
INDIANS BALCO TO BUY 50 K OF 3,000 TO 4,500 GAR CALORIFIC VALUE COAL
COALspot.com: Bharat Aluminium Company Limited (BALCO) is a subsidiary of Sterlite Industries (India) Limited and part of Vedanta Resources PLC, a L ...
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- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
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