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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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Showing 5926 to 5930 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- PTC India Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
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