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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Planning Commission, India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
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