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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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Showing 5941 to 5945 news of total 6871 |
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- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
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