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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, 28 January 10
COAL - VIETNAM / TRADE
Vietnam expects to turn into a coal importer within three years, spurred by an industrial boom and rising power consumption, a senior executive with ...
Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would ...
Thursday, 28 January 10
BHP MAY SELL 25% STAKE IN INDONESIAN COAL PROJECT
BHP Billiton Ltd. plans to sell only a 25 percent stake in a coal project in Indonesia as it wants to retain control of the asset, said Indra Dianna ...
Thursday, 28 January 10
TRANSNET ASPIRES TO 81MT/Y COAL EXPORT CAPACITY
South African State-owned rail transport enterprise Transnet wants to increase coal-line rail capacity to 81-million tons a year as part of its Quan ...
Wednesday, 27 January 10
ASIA'S 2010 STEAM COAL IMPORTS TO REACH 460 MLN T
* China to import up to 100 mln T of steam coal in 2010
* China, India seen investing in southern Africa assets
Asian imports of steam coal will ...
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- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
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