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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
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