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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Australian Coal Association
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
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