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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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Tuesday, 14 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 11%; SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 ...
Monday, 13 July 09
EXPORT COAL PRODUCTION FROM MOOIPLAATS COULD START IN NOVEMBER
Mining Weekly reported that, South Africa-focused emerging miner Coal of Africa (CoAL) has completed a revised mining layout for its Mooiplaats ...
Monday, 13 July 09
NAPOCOR AWARDS 195,000 T COAL TO INDONESIAN FIRMS
ABC-CBN News reported that, Philippine electricity producer National Power Corp (Napocor) has awarded 195,000 tons in coal supply contracts to two I ...
Monday, 13 July 09
PAKISTAN TO IMPORT ABOUT 2.4 MILLION TONS OF INDONESIAN COAL AND 1.6 MILLION TON OF SOUTH AFRICAN COAL WITHIN NEXT 12 MONTHS
COALspot.com (Pakistan) : Pakistan has exported well over 12 million tons of cement while local sales have dropped a bit with the result 33 million to ...
Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
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- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Planning Commission, India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
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