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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
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