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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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Saturday, 25 July 09
HUANENG EYES MAJORITY STAKE IN PT BERAU COAL
CCTV reported that, China's largest publicly traded power company has submitted a bid for controlling stake in Indonesia's fifth largest coal mine ...
Saturday, 25 July 09
ADANI POWER TO IMPORT COAL FOR MUNDRA PLANT
BL reported that more than 50% of the coal requirement for Adani Power’s 4,620 MW Mundra plant will have to be imported from Indonesia though ...
Friday, 24 July 09
INDONESIAN COAL NEWS - UPDATE
Income from tax slow
Since the economic crisis in October 2008 until now, tax from the general mining sector is slow. According to the Director Gene ...
Friday, 24 July 09
S.AFRICA JAN-JUNE EXPORTS TO ASIA AROUND 1.4 MLN T
* China takes 140-150,000 tonnes
* S.Korea imports zero
* Hong Kong utilites buy S.African coal
South African coal exports to Asia excluding India a ...
Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
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- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
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- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
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- Goldman Sachs - Singapore
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- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
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- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
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- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
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- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
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- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- MS Steel International - UAE
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
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