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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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Wednesday, 07 October 09
COAL INDIA, SHIPPING CORP MAY FORM VENTURE TO IMPORT COAL
The venture may be on the lines of the firm that CIL plans with SAIL for coal imports in which both to hold 25%
Live Mint reported that, State-ru ...
Tuesday, 06 October 09
ASIA COAL-PRICE REBOUND TOWARDS $71 ON TENDER ACTIVITY
Reuters reported that, Prices of power-station coal in Australia, a benchmark for Asia, rose 4 percent in the latest week to near $71 a tonne, bolst ...
Tuesday, 06 October 09
BHARATHI CEMENT TO ADD 2.5 MT CAPACITY BY 2010
Business-Standard reported that, Bharathi Cement Corporation (BCC) commenced its commercial operations from its Nallalingayapalli manufacturing plan ...
Tuesday, 06 October 09
MOZAMBIQUE TO BUILD COAL RAILWAY
BBC reported that, Mozambique's government has announced that it has secured $500m (£313m) to build a new railway line. The transport ministe ...
Tuesday, 06 October 09
COAL INDIA AIMS TO BUY MINE ABROAD BY MARCH
*Coal India to issue its first coal import tender by Nov
*ArcelorMittal, 9 others in race to develop abandoned mines
*52 firms keen to partner coa ...
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- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
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