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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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