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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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Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
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