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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 $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
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