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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- The University of Queensland
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
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