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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 July 09
INDONESIA PRODUCES 72 MILLION MT IN FIRST HALF OF YEAR: OFFICIAL
Indonesia produced 72 million mt of coal in the first half of 2009, or 31.3% of the government’s target this year, a senior government officia ...
Sunday, 19 July 09
JINDAL S&P IN TALKS TO BUY SA COAL MINE FOR RS 350-400 CR (US$ 80 - 90 MILLION)
Economic Times reported that, Naveen Jindal-led Jindal Steel & Power (JSPL) is acquiring a thermal coal mine in South Africa, a top company exec ...
Saturday, 18 July 09
REN POWER CZ COMMISSIONS ANOTHER PHOTOVOLTAIC POWER STATION
COALspot.com (Press Release): REN Power CZ, a company in the Czech Coal Group, has put into operation another photovoltaic power station. The plant ...
Saturday, 18 July 09
THE FUTURE FOR SUPRAMAX FOR NEXT 3 YEARS TILL 2012 WOULD BE AROUND US$ 13,500 PER DAY - CAPT. REDDY
COALspot.com ( Singapore): The market moved up sharply this week , which was quite unexpected.
The BDI was up by 557 which is an increase of 18 ...
Friday, 17 July 09
CHINA COAL-SPOT PRICES EDGE LOWER, SUPPLY APLENTY
China Mining reported that, spot prices in China's top coal shipping port Qinhuangdao edged lower from a week earlier, as supply grew, offsetting t ...
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- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
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