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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, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Ministry of Mines - Canada
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