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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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Thursday, 16 July 09
JAPAN'S J - POWER STARTS OPS AT NEW 600 MW COAL UNIT
Reuters, a worlds leading news agency reported that, Electric Power Development Co (J-Power) said on Thursday it started commercial operations at it ...
Thursday, 16 July 09
DELIVERY OF COAL MINE EXPLORATION THROUGH NEWCASTLE PORT ROSE 11 PERCENT
July 16th, 2009 Newcastle is a port in Australia that provides services in the delivery of coal from Australia to other countries. Newcastle port ha ...
Thursday, 16 July 09
CIL KEEN ON JOINT VENTURES
* Targets to raise production by 10 m tonnes by 2012
* Plans to tap reserves of abandoned mines
The Hindu, an Indian news paper reported that, t ...
Wednesday, 15 July 09
COAL INDIA INVITES EOI FOR COAL MINING IN FOREIGN COUNTRIES
Economict Tmes reported that, Coal India, a leading PSU with a status of Navratna, today, invited Expression of Interest for selection of strategic ...
Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
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- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
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- India Bulls Power Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Ministry of Finance - Indonesia
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- Standard Chartered Bank - UAE
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- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- ASAPP Information Group - India
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- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
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- ICICI Bank Limited - India
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- Independent Power Producers Association of India
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- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
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- Gujarat Mineral Development Corp Ltd - India
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- Xindia Steels Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
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- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Goldman Sachs - Singapore
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- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
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- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
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- Aboitiz Power Corporation - Philippines
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- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
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- Mercator Lines Limited - India
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