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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- PTC India Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
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