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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
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