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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Marubeni Corporation - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Planning Commission, India
- MS Steel International - UAE
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- The University of Queensland
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
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