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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
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- VISA Power Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
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