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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
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