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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
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