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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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- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
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