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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- The University of Queensland
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
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