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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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Thursday, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
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