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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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Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
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- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
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