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Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analysts' forecasts of JPMorgan Chase & Co.
The experts predict a 10% growth in average dry bulker’s charter costs thanks to increased demand for ships in China, which is likely to increase its iron ore and coal imports. Capesizes charter price used for transporting iron ore and coal might reach $32.000 a day from $28.000 forecasted earlier.
Panamax ships charter may possibly grow $16.000 a day, against recent $14.000. Freight cost of a Supramax vessel was corrected from $13.000 to $14.000 a day. The average forecast of Handymax charter cost changed slightly - to $12.000 from $ 11.500 per day.
“Increase in imports of iron ore may follow the Chinese New Year celebration (February 14), as the steel companies there will begin to replenish stocks. Coal imports will also remain high, because of unfavorable weather", JPMorgan analyst Jonathan Chapel said.
Source: PortNews / Hellenic Shipping News
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Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
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