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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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Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
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- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- The University of Queensland
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
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