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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
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