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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, 23 July 10
KOWEPO TO IMPORT ADDITIONAL 1.2 MILLION TONS OF INDONESIAN COAL WITHIN 5 MONTHS
Korea Western Power Company Limited has finalized around 1.2 million tonnes of Indonesian origin of coal last week. According to K ...
Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
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- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
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- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
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