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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
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