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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
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- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Planning Commission, India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
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