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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, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
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- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
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