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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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Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
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- Trasteel International SA, Italy
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
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- CNBM International Corporation - China
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
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- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- PTC India Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
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