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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- London Commodity Brokers - England
- MS Steel International - UAE
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
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