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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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Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
Wednesday, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
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- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
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