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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
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