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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
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