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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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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Planning Commission, India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
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