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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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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Planning Commission, India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
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