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Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
 Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry Index) posted yesterday its biggest increase in more than two months, jumping by 4.3% on a daily basis. It now stands at 2,546 points (up by 105 points), with all of the submarkets increasing. But, the “star” of the show was undoubtedly the battered Capesize market, which managed to rise by 245 points at 3,773, where the relative Baltic Capesize Index (BCI) now stands.
As for freight rates they have risen at $37,049 for an average daily time charter.
Just a few days ago, Kong Fanhua, a senior researcher of China Ocean Shipping Group had been quoted as saying that “if you believe in a China story, believe in a recovery in the shipping market”. He maintained that by the end of the year the Baltic Dry Index, the main measure of shipping costs for commodities, could surge by more than 80 percent to return to the 4,000 point level, triggered by increased demand for commodities from China.
This rebound would be fuelled by the fact that local governments encourage factory output, especially of steel. Still, few could believe that this scenario would begin materializing during the Mid-Autumn holiday festivities in China. When these remarks were made by China Ocean Shipping at the end of September, the BDI stood at 2,192 points.
Talks on contract iron prices for next year between suppliers and Chinese mills may drive vessel bookings, Kong said. The fourth quarter is also the “traditional high season” for coal consumption, which should boost the shipping trade, he said. State-held China Ocean Shipping owns the world’s largest operator of dry bulk ships. “It’s just like driving a car on a mountain: if you stop in the middle of the mountain, you’ll slide down backward.” Premier Wen Jiabao said on Sept. 10 that China “cannot and will not change” policies, signaling that he will maintain the unprecedented government spending. Kong echoed the view by Glenn Maguire, chief Asia-Pacific economist with Societe Generale SA, who said earlier this month that China’s inland projects to build more roads, railways and warehouses will continue to fuel demand for commodities. China’s gross domestic product grew 7.9 percent in the second quarter, up from 6.1 percent in the three months through March. GDP growth slowed to 9 percent last year from 13 percent in 2007.
More positive news could come from India pretty soon as well.
According to yesterday’s weekly report by shipbrokers George Moundreas & Co, compiled by George Grigoriadis, India could also emerge as a potential “player” in the dry bulk market. “India is actively looking for new sources of coal, with Mozambique being the latest trend. According to Coal India Ltd., imports could increase by 140 million tonnes per year by 2012” said Mr. Grigoriadis. He further adds that “this means in simple arithmetic and in Supramax terms, additional needs for 300 ships by 2012, just for this trade. The size of the current Supramax orderbook for the period 2010-2013 is about 50% of this, which is a clear indication that the days of balance (between supply and demand) may not come soon, but they will arrive sooner than what we think”. Still, in the short and mid-term this type of dependence from emerging economies must be reduced during 2010, through a speedier recovery and contribution to tonnage demand from the US, the EU and Japan, in order for the freight market to withstand the delivery of almost five new dry bulk carriers per day, as dictated by the current global orderbook.
Source: Hellenic Shipping News
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Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
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- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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