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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
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