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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Planning Commission, India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
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