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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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Friday, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...
Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...
Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...
Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...
Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...
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- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Australian Coal Association
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
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