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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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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
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