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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Economic Council, Georgia
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