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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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Marubeni Corporation - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Australian Coal Association
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
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