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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, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
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- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
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- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
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