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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- PTC India Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
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