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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
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