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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, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
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- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Economic Council, Georgia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
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