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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- PTC India Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
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