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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, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Australian Coal Association
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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