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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, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...
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- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Sical Logistics Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
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