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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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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- PTC India Limited - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
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