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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
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