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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, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
Wednesday, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
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- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Australian Coal Association
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
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