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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
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