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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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Thursday, 23 July 09
COAL IMPORTS SURGE; EXPORTS DOWN IN H1
China Trade Information reported that, China’s coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 mill ...
Thursday, 23 July 09
SRI LANKA CALLS FOR COAL SUPPLY BIDS
Daily Mirro reported that, In a move to install the country’s first coal power plant, Sri Lanka has invited bids to supply 2.4 million metric ...
Thursday, 23 July 09
POWER INVESTORS TURN BACKS ON VIETNAMESE COAL IMPORTERS
VietNamNet Bridge reported that, Investors of power plants always seek foreign coal sources to import themselves, believing they can come by it chea ...
Wednesday, 22 July 09
BERAU COAL DRAWS LOCAL, CHINESE BIDS - SOURCES
* Indonesian coal firm draws local, Chinese bids-sources
* Deal could value Berau at more than $1 billion-sources
Reuters reported that, China' ...
Wednesday, 22 July 09
ONE TENDERS FOR 114,000 MT FOR NOV-JAN
Moroccan state-owned power utility Office National de l’Electricité (ONE) has launched a tender for three handymax shipments of coal fo ...
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- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
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