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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Eastern Energy - Thailand
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
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