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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
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- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
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- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
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- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
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- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
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- Australian Commodity Traders Exchange
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
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- Australian Coal Association
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- Mercator Lines Limited - India
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- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
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- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
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