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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, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
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