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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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Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- The University of Queensland
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- MS Steel International - UAE
- Australian Commodity Traders Exchange
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