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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
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