We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 07 October 09
WORLD'S LEADING COAL-BASED PP PROJECT TO BEGIN TRIAL PRODUCTION NEXT YEAR IN NW CHINA
Xinhua Net reported that, a coal-based polypropylene (PP) production project in northwest China, believed to be the world's largest one, is to ...
Wednesday, 07 October 09
INDIA SAIL TO IMPORT 10-11 MLN T COAL IN FY10 - EXEC
Reuters reported that, Steel Authority of India Ltd plans to import 10-11 million tonnes of coal in the current year to March, below last year's 13 ...
Wednesday, 07 October 09
DOMESTIC SHIPPING FIRMS READY FOR NEW RULES ON COAL, INDUSTRY GROUP SAYS
The Jakarta Globe reported that, The domestic coal-shipping sector is ready for the introduction of shipping regulations requiring all power station ...
Wednesday, 07 October 09
CHINESE BANK MAY PULL OUT OF SUMATRA COAL RAILWAY
The Jakarta Globe reported that, The Export-Import Bank of China may pull out of a $1.28 billion South Sumatra coal-railway project with state-owned ...
Wednesday, 07 October 09
COAL INDIA LOOKS AT LONG-TERM PRICE CONTRACTS
Economic Times reported that, Coal India is looking at long-term price contracts, of at least three-four year periods, with foreign entities, 54 of ...
|
|
|
Showing 6366 to 6370 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- The University of Queensland
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
|
| |
| |
|
