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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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Friday, 19 March 10
COAL INDIA TO HIT CAPITAL MARKETS IN JULY
India’s largest coal producer, Coal India Ltd (CIL), expects to hit the capital markets by July, company chairman Partha S. Bhattacharyya said ...
Thursday, 18 March 10
COAL IMPORTS SOAR IN NANTONG PORT OF JIANGSU PROVINCE CHINA
BloombergUTV reported that, Coal imports at Nantong Port, located in coastal China's Jiangsu Province, soared 13 times to 581,000 tonnes in the fir ...
Thursday, 18 March 10
INNER MONGOLIA TO CAP COAL OUTPUT AT 700 MLN TONS IN 2010
Alibaba / China Knowledge reported that, Inner Mongolia, China's northern border autonomous region, plans to control coal output at 700 million ton ...
Thursday, 18 March 10
THE INDIAN MARKET WAS QUIET, BUT BECAUSE OF THE TIGHT TONNAGE SITUATION STILL FIRM - FEARNLEYS AS
Handy
Activity continues to be solid in the Atlantic.
Supramax physical market is strong which pushed the BSI to a 17 month high at ...
Thursday, 18 March 10
INDONESIAN COAL PRODUCTION EXPECTED TO BEAT EARLIER FORECAST
The Jakarta Globe reported that, the government expects coal output this year to exceed its initial projection of 250 million metric tons as the dri ...
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- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- PTC India Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
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