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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, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the f ...
Monday, 05 October 09
BANPU EYES INCREASE IN COAL OUTPUT
The Nation reported that, Banpu plans to boost its coal output to 23 million tonnes next year once production begins at the East Block of its Indomi ...
Monday, 05 October 09
COAL TRADING C&O TO INVEST $100 M NEXT YEAR
The Jakarta Post reported that, Coal and Oil (C&0) Group of India plans to invest up to US$100 million in Indonesia next year to acquire coal mi ...
Sunday, 04 October 09
INDONESIAN COAL EXCHANGE FOR PRICE BENCHMARKING IN OFFING
Reuters cited Mr Bob Kamandanu chairman of the Indonesian Coal Producers Association as saying that Indonesia plans to set up a coal exchange to cre ...
Sunday, 04 October 09
GRASIM TO CONSOLIDATE CEMENT BIZ
The Statesman reported that, India's largest cement producer Aditya Birla group today said it would consolidate its cement businesses by merging Gr ...
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- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- White Energy Company Limited
- Indian Energy Exchange, India
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