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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
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