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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
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