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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, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
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