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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, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
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- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- The University of Queensland
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
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