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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, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- ICICI Bank Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
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