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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Economic Council, Georgia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Eastern Coal Council - USA
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
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