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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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Saturday, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
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- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
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