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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, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
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