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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
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