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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- The University of Queensland
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
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