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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- White Energy Company Limited
- Georgia Ports Authority, United States
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Australian Coal Association
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
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