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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, 09 March 10
STRONG REBOUND IN ALL THE DRY BULK SEGMENTS THIS WEEK
There was a strong rebound in all the dry bulk segments this week, leading to an 18% jump in the Baltic Dry Index.
The Cape and Panamax markets s ...
Tuesday, 09 March 10
L&T POWER EYEING COAL MINES IN AUS, INDONESIA
L&T Power Development Company, a part of the Larsen & Tubro Group, plans to acquire coal mines in Australia and Indonesia, a top company off ...
Tuesday, 09 March 10
BHP AGREES SHORTER-TERM COAL DEALS WITH EUROPEAN, ASIAN CUSTOMERS
Diversified miner BHP Billiton on Monday reported that it had reached sales terms for a significant portion of its hard coking coal volumes for 2010 ...
Monday, 08 March 10
KPCL TO IMPORT 0.9 MILLION TON OF 6000 GCV COAL
COALspot.com: India's Karnataka Power Corporation Ltd is seeking to import 0.9 million metric tons of 6000 kcal/kg (adb) Gross Calorific Value stea ...
Monday, 08 March 10
CHINA SHIPPING TO CARRY MORE COAL FOR SHENHUA
Hellenic Shipping News reported that, China Shipping (Group) Company will expect to ship 40 million tons of coal for Shenhua Group in 2010, Li Shaod ...
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- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
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