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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, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
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- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Australian Coal Association
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
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