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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
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