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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Parliament of New Zealand
- MS Steel International - UAE
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
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