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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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Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
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- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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