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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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Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Planning Commission, India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
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