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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES
The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 ...
Sunday, 30 August 09
THE FUTURES FOR THREE YEARS FOR 2010-2012 IS AROUND PANAMAX / US$ 15,500 & SUPRAMAX / US$ 13,500 PER DAY
COALspot.com (Singapore): The dry bulk market continued to be soft this week and the BDI was almost stable and closed at 2,421 points this week.
...
Friday, 28 August 09
INDONESIA SEEKS TO INCREASE COAL PRODUCTION TO BOLSTER REVENUE
The Jakarta Post, the leading english news paper in Indonesia reported that, Indonesia expects to increase coal production by up to 20 million tons ...
Friday, 28 August 09
MERCURIA ENERGY OPENS INDONESIA TRADING OFFICE
COALspot.com ( Indonesia): Mercuria Energy Group has opened a new office in Jakarta, Indonesia, focussed on trading coal.
Jakarta-based Emanuele ...
Friday, 28 August 09
COAL MINE BUYERS DUST OFF THEIR CASH ( ANALYZED BY REUTERS)
* Coal asset buyers give up waiting for bargains
* Mining majors expected to buy not sell
* South Africa a target, Indonesia less so
By Jackie ...
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Showing 6461 to 6465 news of total 6871 |
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- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- PTC India Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
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