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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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Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
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- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- The University of Queensland
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
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