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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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Tuesday, 08 September 09
INDONESIA OFFERS AN OPPORTUNITY TO INDIANS
Meri News reported that, Indonesia is all set to launch the country's second 10,000 MW accelerated power expansion programme. The new power develop ...
Tuesday, 08 September 09
BUKIT ASAM AIMS 14 MLN TONS COAL PRODUCTION
VIVA News reported that, The rise in coal production is mainly triggered by the step-up in domestic demand.
Coal mining company PT Tambang Batuba ...
Tuesday, 08 September 09
MERCHANT BANKERS ADVISE CIL ON INDONESIAN MINE BUYS
Business Standard reported that, State-owned Coal India Ltd (CIL) is being advised by four to five merchant bankers on acquisition of coal assets in ...
Tuesday, 08 September 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 - PRESS RELEASE
The 3rd Asia Pacific Coal Trading & Investment Outlook 2009
Analysis of Asia Coal Market amid Global Financial Crisis
COALspot.com(Chin ...
Tuesday, 08 September 09
SOUTH AFRICAN COAL EXPORTS MAY RISE ON SALES TO INDIA
Bloomberg reported that, South African coal exports may rise to 100 million metric tons a year by 2020 and India may become the biggest destination ...
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- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
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- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
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- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Latin American Coal - Colombia
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- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
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- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- PTC India Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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