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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, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
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