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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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Saturday, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Planning Commission, India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- White Energy Company Limited
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
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