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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
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