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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
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