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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, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...
Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...
Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...
Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release
1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...
Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY
The BSI still decline as holidays around the world have reduced trading.
...
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- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
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