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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- The University of Queensland
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
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