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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, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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