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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, 20 April 10
INDO HARUM ENERGY WINS US$200MN LOAN PLEDGE FROM BANK SYNDICATE
Indonesian coal producer PT Harum Energy has secured a loan commitment of US$200 million from a syndicate of six banks.
Bank of Tokyo Mitsubishi ...
Tuesday, 20 April 10
PACIFIC SUPRA MARKET WAS STILL SOFTENING - BRS
A modest increase in dry bulk rates this week with activity picking up in the middle of the week. Panamax rates remain above the Capes, and there wa ...
Monday, 19 April 10
IS CHINA TO SUFFER NEW COAL SUPPLY SHORTAGE IN 2010? - XINHUA
Is China likely to suffer a new coal supply shortage in 2010? It's a question haunting many Chinese market analysts now. After a string of several ...
Monday, 19 April 10
WHITE ENERGY BUYS SA COAL - ABC NET
ABC Net reported that, South Australian Coal Limited is being bought by the New South Wales company White Energy.
Shareholders will get a combine ...
Monday, 19 April 10
PLN TO OPERATE COAL MINES IN BID TO FUEL POWER PLANTS
The Jakarta Globe reported that, state electricity utility PT Perusahaan Listrik Negara said on Sunday that it aimed to take over operation of small ...
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- CNBM International Corporation - China
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Australian Coal Association
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Salva Resources Pvt Ltd - India
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