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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, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
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