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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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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- The University of Queensland
- Planning Commission, India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
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