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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
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