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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, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
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