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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- White Energy Company Limited
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Planning Commission, India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
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