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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, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...
Thursday, 25 February 10
INDO / INDIA COAL TRIPS SUPRAS CAN ACHIEVE AROUND MID 10S - FEARNLEYS AS
Handy
The BSI regained positive momentum exactly a week ago and the Atlantic rema ...
Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...
Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...
Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...
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- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
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