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Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
 When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range during the second half of the year, almost nothing indicated that the dry bulk industry’s main benchmark would record its biggest fall in almost five years. Still, the 4,118 voters appeared to be on the positive side, with 45,4% of them answering that the index will range between 3,000 and 4,000 points. Out of those, 22.9% or 943 votes were for the 3,000-3,500 limit, while an additional 22.5% or 926 votes were a bit more optimistic, placind the index at the range of 3,500 and 4,000 points.
Even more positive on the dry bulk market’s prospects were those 892 voters (21.7%) who predicted that the freight market will stay above 4,000 points, not to mention the overly optimistic who said it will surpass even the 4,500 point mark. They amounted to 467 or 11.3%. On the negative side were those 890 people (21.6%) who said that the market will stay within today’s range of between 2,500 and 3,000 points.
Of course, since the beginning of the week, the BDI has posted further declines, even if they appear to be rather stabilized. The index ended yesterday’s session at 2,406 points, down by 41, but the Capesize market was once again at a standstill, unchanged in the past couple of days. The bulk of the fall was recorded in the panamax segment of the market, with the Panamax Index retreating by 127 points to 2,748.
According to a report from Arctic Securites, quoted by Bloomberg, “imports of coal and iron ore by China, the world’s biggest user of the commodities, fell for two consecutive months, customs data show. Grain shipments from South America slowed leaving shipping lines with “the full force of vessel supply,” Martin Sommerseth Jaer and Erik Nikolai Stavseth, Oslo-based analysts with Arctic Securities ASA, said. “Everything together is contributing to it free falling,” said Andrew Dawson, a broker with Freight Investor Services in London. The “Chinese don’t seem to have the appetite for ore. Grain has been weaker than expected and coal in the Atlantic has not been as strong as previous years.”
In a separate report on the iron ore and steel market, Commodore Research said that iron ore demand has remained firm as expected, but spot ore prices and imports could be poised to briefly decline. Chinese steel mills have slowly begun to cut steel production in an attempt to reverse the steady decline in steel prices. Steel production in China is not expected to collapse by any means but we do expect it will decrease moderately in the short-term. The decrease in steel production and related iron ore demand will put pressure on dry bulk freight rates. It remains to be seen if robust Asian thermal coal demand and firm global grain demand will be able to compensate for the expected short-term decline in Chinese iron ore demand” the report noted.
At the same time, spot Indian iron ore with a 63.5% iron content is currently selling for approximately $130/ton FOB, an increase of $5 (4%) from a month ago. Compared with the end of last week, however, spot prices are down by $4 (-3%). Spot iron ore prices had been firming throughout much of June and ore fixtures in the dry bulk market have remained relatively firm - but the recent fall in iron ore prices in troubling. Chinese steel mills have been cutting production in order to reverse the steady fall of steel prices.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- VISA Power Limited - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
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