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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, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
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