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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
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