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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
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