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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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Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
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- Heidelberg Cement - Germany
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
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