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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, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Australian Coal Association
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- The University of Queensland
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
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