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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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Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
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