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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, 17 July 09
THE NEW LAW OF MINERAL AND COAL MINING NO 4/2009 CREATE CONDUCIVE CLIMATE OF INVESTMENT IN INDONESIA
COALspot.com (Indonesia): The new Law of Mineral and Coal Mining No 4/2009, which replaces the old mining law No. 11/1967 has been signed by the Pre ...
Friday, 17 July 09
INDIA COAL TRADERS MUST OWN POWER, MINES - C&O BOSS
· Coal traders need to diversify to grow
· Coastal Energen to build first merchant power plant
· Tamil Nadu to see st ...
Friday, 17 July 09
CHINA SHENHUA ENERGY'S COAL OUTPUT SWELLS 17.6% IN H1
China Knowledge reported that, China Shenhua Energy Co Ltd, which is engaged in the coal mining, power generation and transportation businesses, on ...
Thursday, 16 July 09
CHINA ISSUES SECOND BATCH OF '09 EXPORT QUOTAS
China has issued 25 million tonnes of coal export quotas for the second batch this year, the National Development and Reform Commission said Wednesd ...
Thursday, 16 July 09
NTPC TO ENGAGE BANKERS TO ACQUIRE OVERSEAS COAL MINES
The Hindu reported that, State-run power generation company NTPC said it would appoint merchant bankers next month for acquiring coal mines identifi ...
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- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
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