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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
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