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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- PTC India Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
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