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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, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
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- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
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