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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- The University of Queensland
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Planning Commission, India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
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