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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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Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
Thursday, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
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- Goldman Sachs - Singapore
- Aditya Birla Group - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
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