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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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- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- The University of Queensland
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
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