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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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Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
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Showing 6326 to 6330 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
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