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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- PTC India Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
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