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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- London Commodity Brokers - England
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Planning Commission, India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
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