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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
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