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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Jaiprakash Power Ventures ltd
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- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
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- Makarim & Taira - Indonesia
- Parliament of New Zealand
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- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
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- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
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- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
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- Eastern Energy - Thailand
- India Bulls Power Limited - India
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- MS Steel International - UAE
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- Indonesian Coal Mining Association
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- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- The University of Queensland
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
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- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
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- Bangladesh Power Developement Board
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- Bukit Makmur.PT - Indonesia
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- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
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