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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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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
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