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