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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, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
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