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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, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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