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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
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