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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, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Economic Council, Georgia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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