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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
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