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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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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
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