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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, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
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