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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
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