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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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Sunday, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
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