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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- The University of Queensland
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
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