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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, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
Thursday, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
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- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
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