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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Minerals Council of Australia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
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