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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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