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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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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- The University of Queensland
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
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