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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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