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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, 09 January 10
IMPORTED, LOCAL COAL TO BE MIXED IN POWER DRIVE
The government is likely to create a pool price of coal, wherein imported coal and Indian coal could be mixed, making the imported coal becomes more ...
Friday, 08 January 10
SA COAL PRICES TO SPIKE ON RESUMED INDIA BUYING
South African coal prices are set for another price surge to over $100 a ton FOB as Indian and Chinese buyers compete for limited prompt supply, pro ...
Friday, 08 January 10
COLOMBIAN COAL STARTS TO MOVE TO CHINA - TRADERS
* Producer sells cape cargo Colombian coal to China
* Firm bids in freight market
* More shipments expected
Colombian coal is starting to move ...
Thursday, 07 January 10
PT. BUKIT ASAM TO BUILD NEW COAL LOADING TERMINAL AND COAL LOADER
COALspot.com (Indonesia): PT Bukit Asam (Persero) Tbk, Indonesia’s state owned coal mining company, is planning to build an additi ...
Thursday, 07 January 10
RAMKY PLANS COAL MINING IN INDONESIA
Ramky Infrastructure Limited, a Hyderabad-based integrated infrastructure construction and development management company with strategic emphasis on ...
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- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
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