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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
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