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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
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Showing 5751 to 5755 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Economic Council, Georgia
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