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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
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