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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, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
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- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- The University of Queensland
- Parliament of New Zealand
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
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