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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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Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
Thursday, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
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- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Ministry of Mines - Canada
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Australian Coal Association
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
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