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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
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