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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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Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
Monday, 28 December 09
INDONESIAN MINER LINKED TO FUGITIVE FINANCIER
The Energy Ministry is unlikely to approve the transfer of ownership of coal miner PT Riau Baraharum on allegations it is indirectly owned by fugiti ...
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- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Australian Coal Association
- White Energy Company Limited
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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