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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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
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