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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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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
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