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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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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
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