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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 $4 (-3%). Spot iron ore prices had been firming throughout much of June and ore fixtures in the dry bulk market have remained relatively firm - but the recent fall in iron ore prices in troubling. Chinese steel mills have been cutting production in order to reverse the steady fall of steel prices.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- GMR Energy Limited - India
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