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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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Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
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- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
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- Australian Coal Association
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- SMC Global Power, Philippines
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- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
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- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
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- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
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- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
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- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
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