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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 26 August 09
COAL INDIA MAY HIKE COAL PRICES BY UP TO RS 175 (ABOUT US$ 3.60) A TONNE
The Economic Times reported that, state-owned Coal India may hike coal prices by up to Rs 175 (~ US$ 3.60) a tonne to close the gap between domestic ...
Tuesday, 25 August 09
KOREA TO INTRODUCE COAL-MINING ROBOTS TO REDUCE THE RISK OF HUMAN LOSSES FROM CONVENTIONAL MINING
Far East Gizmos reported that, The state-run Korea Coal Corp. (KOCOAL) signed a memorandum of understanding (MOU) on Monday with three Korean engine ...
Tuesday, 25 August 09
INDIA'S GNFC EXTENDED ONLINE BIDDING FOR PURCHASE OF 260,000 T COAL TO 23RD SEPTEMBER 2009
COALspot.com (India): Gujarat Narmada Valley Fertilizers Co. Ltd. (GNFC) invites offers (e-Tender) for supply of 130,000 MT +/- 5% on firm basis and ...
Tuesday, 25 August 09
ANTAM CONSIDERS ACQUIRING BHP
The Jakarta Post reported that, State mining company PT Aneka Tambang (Antam) is contemplating acquiring BHP Billiton's coal concessions in Central ...
Tuesday, 25 August 09
COAL OUTPUT TO RISE IN H2 BUT EXPORTS TO GO FLAT
The leading english news paper in Indonesia reported that, It is estimated coal production will rise by 5.7 percent in the second semester from a ye ...
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- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Australian Coal Association
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