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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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Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- The Treasury - Australian Government
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
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