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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
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