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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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Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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