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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, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
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- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
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