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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Ministry of Mines - Canada
- PTC India Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Sical Logistics Limited - India
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