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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Planning Commission, India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
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