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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, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
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- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
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- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
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- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
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- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
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- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- The University of Queensland
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
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- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
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- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
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