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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, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Economic Council, Georgia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
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- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
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- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
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- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
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- Directorate Of Revenue Intelligence - India
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- Indian Oil Corporation Limited
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- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
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- The University of Queensland
- Mjunction Services Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
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- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
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- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
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