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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, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
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- MS Steel International - UAE
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- White Energy Company Limited
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- Renaissance Capital - South Africa
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- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
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- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
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- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
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- Timah Investasi Mineral - Indoneisa
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- Global Business Power Corporation, Philippines
- Australian Coal Association
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- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- The University of Queensland
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
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- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
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- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
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- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
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- Sindya Power Generating Company Private Ltd
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- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
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