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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Planning Commission, India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
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