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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, 05 November 09
HMS BERGBAU AG OPENING INDIAN OFFICE
Further step on internationalization track Office in Mumbai Participation in demand for coal imports
HMS Bergbau AG, is an international coal tra ...
Thursday, 05 November 09
SAM'S SEAFOOD HOLDINGS MOVES STEP CLOSER TO COAL EXPLORATION IN INDONESIA
Sam’s Seafood Holdings Limited, which is proposed to be renamed Pan Asia Corporation Limited, is moving closer to becoming an exploration and ...
Wednesday, 04 November 09
INDONESIA CAP ON COAL EXPORTS MAY HIT INDIAN POWER SECTOR
BL reported that Karnataka power sector is likely to be partially impacted by the Indonesian Government move to restrict coal exports.
Private se ...
Wednesday, 04 November 09
SA 2010 COAL EXPORTS SEEN AT 65M TO 68M TONS - ANALYSTS
South Africa's thermal coal exports could rise to as high as 68 million tonnes in 2010 but are more likely to be 64-65 million compared to 60 milli ...
Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
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- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
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