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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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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
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