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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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Saturday, 11 July 09
THE IMPORT OF STEAM COAL FROM INDONESIA & S/A TO INDIA WILL CONTINUE TO INCREASE - VISTAAR
COALspot.com ( Singapore): Vistaar Shipping, an experienced ship operator in Singapore said, The market continued to be soft this with doubts a ...
Friday, 10 July 09
DMO AND ICPR AIMED AT SECURING DOMESTIC COAL SUPPLY
COALspot.com (Indonesia): According to website of DGCMG, the implementation of coal Domestic Market Obligation (DMO) and the Indonesian Coal P ...
Friday, 10 July 09
INDONESIAN MINING LAW IN TRANSITION
Further to the enactment of Law No. 4 of 2009 on Mineral and Coal Mining (“Law 4/2009”), the enactment of various implementing regulatio ...
Thursday, 09 July 09
COAL EXPORTS TO CHINA MAY FALL AS PRICES, SHIPPING RATES RISE
CHINA'S appetite for Australian coal may fall in July and August from earlier highs, due to a recent recovery in regional prices and higher interna ...
Thursday, 09 July 09
GARDA LISTS SHARES IN LOCAL BOURSE
Local coal company PT Garda Tujuh Buana officially listed its shares in the Indonesia Stock Exchange (IDX).
The listing followed the company's p ...
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- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- White Energy Company Limited
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
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