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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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Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
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