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.
|
|
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
|
|
|
Showing 5911 to 5915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- The University of Queensland
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
|
| |
| |
|
