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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Australian Coal Association
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