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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, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Petron Corporation, Philippines
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