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Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
 In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up during the first two days of this week, ending yesterday’s session up by 244 points to 4,187. This is very close to the all-time highs of the BDI, since the financial crisis struck the global economy and triggered a crash of the BDI to just 661 points by early December of 2008.
The most impressive rise was noted in the leading cape size market segment, where just yesterday, the BCI (Baltic Capsize Index) shot up by an impressive 637 points to surpass the 5,000 point mark (5,262). On the opposite end, rates for all smaller ship sizes were down yesterday.
In a relative report, Commodore Research & Consultancy, said that “going forward, declining steel and iron ore prices are still a cause for concern and we still remain cautious that dry bulk freight rates will continue to come under pressure in the immediate future. It is encouraging, however, that iron ore stockpiles at Chinese ports have decreased and spot chartering activity increased at the end of the week. Congestion is also high and it is encouraging that global steel production set a new record in April and so far remains firm. Global steel output normally remains robust during the Northern Hemisphere summer and we continue to anticipate a rebound in dry bulk cargo demand in the upcoming months”.
It went on to add that slowly improving conditions in southwest China have allowed hydropower production to increase, which reduces the need for thermal coal, but Chinese demand for thermal coal is expected to remain robust as China enters peak summer demand season and the economy continues to expand at a rapid pace. “In addition, the commencement of Indian monsoon season will result in China needing to import more iron ore from australia and Brazil which will lend additional support to Cape size freight rates.
A decrease in Indian iron ore exports, which are normally carried on Supramax and Panamax vessels, will be partially offset by an increase in Chinese grain imports. Overall, dry bulk cargo demand is in a bit of a lull, but thermal coal and grain demand remain robust and iron ore demand is still firm. The Chinese housing market and real steel consumption must continue to be closely monitored. It seems unlikely that steel and iron ore demand will suffer a sustained decline but spot prices and vessel fixtures must continue to be monitored closely” said Commodore.
Meanwhile, according to the latest official data, China produced 88.1 million tons of iron ore in April, an increase of 8.34mt (10%) from 79.7mt produced in March. Chinese iron ore production usually increases in the same months when China imports a large amount of ore - China imported 55.3mt of ore last month, about 2.7mt (5%) more than this year's monthly average of 52.6mt. Robust ore production in China is likely to continue - but May production may decrease as Chinese ore demand has come under pressure. China will continue to import large amounts of ore, however, as demand is expected to remain firm and domestic ore is of low quality.
In another bullish move for the market, surprise reports emerged for new building orders from both Rio Tinto and BHP Billiton. According to the latest weekly report by shipbroker Barry Rogliano Salles (BRS), Rio Tinto was said to have placed a US$ 500m order at Hanjin for eight 205,000 dwt vessels. Meanwhile BHP is reportedly set to give 10-year charter backing to six vessels of the same size to be ordered by Fortis bank at Hyundai (at a cost of US$ 66-US$ 67m each). “Although we have seen Vale busy in the market, this is the first apparent new building move from the other two mining groups, a strategy in line with the shift towards more CIF-based selling.
While Rio picked up several second hand vessels last year, prices have risen since then, increasing interest in new builds. The US$ 62.5m price tag quoted for Rio’s large Capes is similar to the current Baltic price for a 5-year-old 170,000 dwt Cape. If confirmed, the BHP contract would represent the first ‘Newcastlemax’ tonnage of around 200,000 dwt built by the yard since the early nineties” said the broker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
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