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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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Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
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- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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