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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- PTC India Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- MS Steel International - UAE
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
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