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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- The University of Queensland
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
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