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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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Thursday, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- White Energy Company Limited
- CNBM International Corporation - China
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
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