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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, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- White Energy Company Limited
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
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