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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
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