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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, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
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