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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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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
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- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
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