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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Ministry of Finance - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
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- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
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- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
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- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
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- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
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- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
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- Karbindo Abesyapradhi - Indoneisa
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- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
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- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
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- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- MS Steel International - UAE
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
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