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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, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the four ...
Wednesday, 09 September 09
SALES FORECAST UP ON BETTER DISTRIBUTION
The Jakarta Post reported that, State coal producer PT Tambang Batubara Bukit Asam (PT BA) expects coal sales to rise by 11 percent next year as it ...
Wednesday, 09 September 09
NTPC HIRES MACQUARIE TO ADVISE INDONESIA COAL MINE PURCHASE
Bloomberg reported that, NTPC Ltd., Asia’s biggest power utility by value, has hired Macquarie Group Ltd. to evaluate a proposed coal mine pur ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL FALLS MOST IN 11 WEEKS ON EXCESSIVE PRICES
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Tuesday, 08 September 09
INDIA MAY HAVE A JOINT WORKING GROUP FOR COAL WITH INDONESIA: SRIPRAKASH JAISWAL - PRESS RELEASE
Press Information Bureau of India reported in its web site that, The Coal Ministry has, in principle, agreed to set up a Joint Working Group for coa ...
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- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
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- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
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