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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, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
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