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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, 24 August 09
10 LAKH (1 MILLION) TONNE COAL BURNT IN KPT
Times of India reported that, In an unusual phenomenon, 10 lakh tonne coal cache stored at a plot in Kandla Port Trust was reduced to ashes after it ...
Monday, 24 August 09
LANCO IN TALKS FOR INDONESIAN COAL MINE
Economic Times of India reported that, Infrastructure company Lanco Infratech is in advanced talks with Indonesian engineering, procurement and cons ...
Saturday, 22 August 09
'THE BDI IS LIKELY TO BE HOLDING AROUND 2,500 POINTS' - SHIPPING UPDATE
COALspot.com (Singapore): The dry bulk market continued to be soft and the BDI dropped by 10 percent this week and closed at 24,68 points this week. ...
Saturday, 22 August 09
INDIAN COAL BUYERS RE-EMERGE WITH FRESH TENDERS
Reuters world's largest international multimedia news agency reported that,Indian coal end-users have re-emerged after a few weeks with several fre ...
Friday, 21 August 09
HUANENG YIMIN TO HIKE COAL OUTPUT
China Daily, the largest English portal in China reported that, China's first large coal-electricity joint project, Huaneng Yimin Coal Electricity ...
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- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Australian Coal Association
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Xindia Steels Limited - India
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