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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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Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
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- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- PTC India Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
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