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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, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Planning Commission, India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Minerals Council of Australia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
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