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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, 25 August 09
INDIAN FIRM TO INVEST $44 MN IN INDONESIA
Economic Times - India Times reported that, BEML Limited, India-based second largest heavy equipment producer in Asia, will invest $44 million in In ...
Tuesday, 25 August 09
BHARAT LOOKS TO BULLDOZE RIVALS WITH LOWER PRICES
The Jakarta Globe reported that, The country’s two established heavy equipment suppliers now have a competitor in the form of Indian firm Bhar ...
Tuesday, 25 August 09
PIKE RIVER DELAYS COAL EXPORTS FROM NEW ZEALAND MINE
South African mining Weekly reported that, The first 60,000-t export shipment from ASX-listed Pike River Coal’s new mine has been delayed unti ...
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brok ...
Monday, 24 August 09
10,000 MW TO BE GENERATED THROUGH THAR COAL RESERVES BY 2020
Four projects of 2450 MW approved; govt to invest Rs80bn in five years on infrastructure
The News Pakistan reported that, The Thar Coal a ...
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- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
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