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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
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