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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Parliament of New Zealand
- PTC India Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
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