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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 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
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