We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
|
|
|
Showing 5856 to 5860 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
