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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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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
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