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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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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
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