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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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Saturday, 30 January 10
THE ECI / CHINA (S7) ROUTE SOFTENED BY $ 5,736 AND CLOSED AT $ 27,360 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week probably in anticipation of Chinese New year holidays.
BDI INDEX
...
Saturday, 30 January 10
INDONESIA TO CONSTRUCT 93 POWER PLANTS IN 2ND PROJECT
The government has announced its list of 93 power plants to be built under the second 10,000-megawatt (MW) power generation scheme.
"With th ...
Saturday, 30 January 10
COAL FIRMS TO KEEP NATION IN THE BLACK
Some Indonesian coal mining companies on Friday pledged to allocate a greater share of their production this year to meet domestic market obligation ...
Friday, 29 January 10
INDIA STEAM COAL IMPORTS TO DOUBLE, BOOST SOUTH AFRICA
* SAfrica seen shipping 75 pct of its coal to Asia in 2010
* Logistics woes hamper SAfrica exports, India imports
India's steam coal imports ar ...
Thursday, 28 January 10
THE IRON ORE EXPORTS FROM INDIA TO CHINA ARE DOWN AND THE RATES DROPPED
HANDY
The BSI has continued its downward trend confirming the softening of the Atlantic since the previous week and reflecting a correction of the ...
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- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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