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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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Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
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