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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 $4 (-3%). Spot iron ore prices had been firming throughout much of June and ore fixtures in the dry bulk market have remained relatively firm - but the recent fall in iron ore prices in troubling. Chinese steel mills have been cutting production in order to reverse the steady fall of steel prices.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Planning Commission, India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
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