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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- VISA Power Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- White Energy Company Limited
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
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