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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
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