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