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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, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
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