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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, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
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