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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
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