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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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Monday, 08 June 09
PRIVATE COAL MINERS LIKELY TO LAND COMMERCIAL LICENSE - ECONOMIC TIMES
Economic Times of India reported that, The government may allow commercial coal mining by private companies as it looks to plug the demand-supply ga ...
Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry th ...
Monday, 08 June 09
NAPOCOR BUYING COAL FOR PAGBILAO PLANT - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, State-run National Power Corp. plans to buy 390,000 metric tons of steaming coal next month, to supply the ...
Sunday, 07 June 09
SEMIRARA SELLING COAL TO THAILAND - STEELGURU
Business Mirror reported that coal producer Semirara Mining Corporation has successfully entered the Thailand market during the Q1 of the year, help ...
Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
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- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
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- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
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- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
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