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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Australian Coal Association
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
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