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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- The University of Queensland
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
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