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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
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