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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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Monday, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
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- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Economic Council, Georgia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
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