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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 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- White Energy Company Limited
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
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