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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- The University of Queensland
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
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