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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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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
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- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
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