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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, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
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- India Bulls Power Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
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- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
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- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Mjunction Services Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
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- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
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