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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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Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
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- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- The University of Queensland
- Minerals Council of Australia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
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