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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
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