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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- The University of Queensland
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
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