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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
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