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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, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- PTC India Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
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