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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, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- The University of Queensland
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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