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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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Sunday, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
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