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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Australian Coal Association
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
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