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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, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise h ...
Monday, 02 August 10
LINC, ADANI COMPLETE THEIR COAL CONNECTION
"THE much-speculated deal between underground coal gasification company Linc Energy and India's Adani Enterprises is set to be signed tomorrow ...
Saturday, 31 July 10
TABONEO ANCHORAGE TO LOAD 1.5 MLN TON OR MORE COAL IN H1 AUGUST
COALspot.com: Eighty five ocean going vessels and barges have been nominated by coal buyers to their respective suppliers in Indonesia to load about ...
Saturday, 31 July 10
SEEMS THE FREIGHT MARKET WOULD BE FAIRLY STABLE FOR H2 2010 - VISTAAR
COALspot.com: The BDI continued moving up since 16th July and rise by 14 pct almost touching 2000 points.
The BDI was up by 7.72 pct last week wh ...
Friday, 30 July 10
DRY BULK MARKET BACK ON THE ROAD TO RECOVERY
Freight rates for dry bulk carriers have continued to edge higher this week, with the industry’s main benchmark, the Baltic Dry Index (BDI) ga ...
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- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
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- Indian Energy Exchange, India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
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- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
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- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
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