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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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Saturday, 13 February 10
COAL INDIA 2010/11 COAL IMPORTS TO JUMP - EXEC
Coal imports by state-run Coal India Ltd are likely to soar to 6-10 million tonnes in fiscal 2010/11 from an expected 1.5-1.7 million tonnes in the ...
Saturday, 13 February 10
RULES MAY FREE $10B OF MINING PROJECTS IN INDONESIA
The government announced on Friday that it had issued two implementing regulations for the new Mining Law that will clear the way for the developmen ...
Saturday, 13 February 10
INDONESIA OFFERS TAX INCENTIVES FOR RENEWABLE ENERGY
Indonesia is offering tax incentives to develop renewable energy projects, including geothermal energy, to cut dependency on fossil fuels, a decree ...
Friday, 12 February 10
MECHEL EYES 2010 COAL OUTPUT AT 28-29 MLN T
Russian steel and coking coal producer Mechel expects coal output to reach 28-29 million tonnes this year, returning to pre-crisis levels thanks to ...
Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
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- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- The University of Queensland
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
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