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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 $4 (-3%). Spot iron ore prices had been firming throughout much of June and ore fixtures in the dry bulk market have remained relatively firm - but the recent fall in iron ore prices in troubling. Chinese steel mills have been cutting production in order to reverse the steady fall of steel prices.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- The University of Queensland
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
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