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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
Thursday, 23 July 09
INDONESIA COAL-PRICES CLIMB TO $80, INDIAN DEMAND SLOWS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, jumped to nearly $80 a tonne this week, while Indonesi ...
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- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
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