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Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
 Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry Index) posted yesterday its biggest increase in more than two months, jumping by 4.3% on a daily basis. It now stands at 2,546 points (up by 105 points), with all of the submarkets increasing. But, the “star” of the show was undoubtedly the battered Capesize market, which managed to rise by 245 points at 3,773, where the relative Baltic Capesize Index (BCI) now stands.
As for freight rates they have risen at $37,049 for an average daily time charter.
Just a few days ago, Kong Fanhua, a senior researcher of China Ocean Shipping Group had been quoted as saying that “if you believe in a China story, believe in a recovery in the shipping market”. He maintained that by the end of the year the Baltic Dry Index, the main measure of shipping costs for commodities, could surge by more than 80 percent to return to the 4,000 point level, triggered by increased demand for commodities from China.
This rebound would be fuelled by the fact that local governments encourage factory output, especially of steel. Still, few could believe that this scenario would begin materializing during the Mid-Autumn holiday festivities in China. When these remarks were made by China Ocean Shipping at the end of September, the BDI stood at 2,192 points.
Talks on contract iron prices for next year between suppliers and Chinese mills may drive vessel bookings, Kong said. The fourth quarter is also the “traditional high season” for coal consumption, which should boost the shipping trade, he said. State-held China Ocean Shipping owns the world’s largest operator of dry bulk ships. “It’s just like driving a car on a mountain: if you stop in the middle of the mountain, you’ll slide down backward.” Premier Wen Jiabao said on Sept. 10 that China “cannot and will not change” policies, signaling that he will maintain the unprecedented government spending. Kong echoed the view by Glenn Maguire, chief Asia-Pacific economist with Societe Generale SA, who said earlier this month that China’s inland projects to build more roads, railways and warehouses will continue to fuel demand for commodities. China’s gross domestic product grew 7.9 percent in the second quarter, up from 6.1 percent in the three months through March. GDP growth slowed to 9 percent last year from 13 percent in 2007.
More positive news could come from India pretty soon as well.
According to yesterday’s weekly report by shipbrokers George Moundreas & Co, compiled by George Grigoriadis, India could also emerge as a potential “player” in the dry bulk market. “India is actively looking for new sources of coal, with Mozambique being the latest trend. According to Coal India Ltd., imports could increase by 140 million tonnes per year by 2012” said Mr. Grigoriadis. He further adds that “this means in simple arithmetic and in Supramax terms, additional needs for 300 ships by 2012, just for this trade. The size of the current Supramax orderbook for the period 2010-2013 is about 50% of this, which is a clear indication that the days of balance (between supply and demand) may not come soon, but they will arrive sooner than what we think”. Still, in the short and mid-term this type of dependence from emerging economies must be reduced during 2010, through a speedier recovery and contribution to tonnage demand from the US, the EU and Japan, in order for the freight market to withstand the delivery of almost five new dry bulk carriers per day, as dictated by the current global orderbook.
Source: Hellenic Shipping News
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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
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