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Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
 The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find room for support for yet another day. Yesterday, it tumbled by an additional 55 points or 2.23 percent, to 2351, marking its lowest point in nine months. In fact, even the recent standstill of the capesize market proved unsustainable, with the Baltic’s capesize index losing further ground yesterday, down by 1.95% to 2658 points. As for the panamax market, for a second straight session, it proved to be the “weakest link” retreating by 4.4% or 121 points to 2627. Average earnings for panamax vessels now stand to a mere $21,147, the lowest since October of 2009. The BDI has now extended its downfall to 26 straight sessions, which is the longest losing streak since August of 2005. It comes to show that China’s slowdown is having a tremendous impact on shipping rates, as the rest of the world hasn’t rebounded enough to keep ships afloat.
“We are at the moment finding ourselves with an over- tonnaged market,” Alex Gray, chief executive officer of Clarkson Securities Ltd., the freight-derivatives unit of the world’s largest shipbroker, said in an interview with Bloomberg yesterday. There’s “lower demand than we have seen at any stage this year.” In a separate report by Reuters, Peter Norfolk, research director with broker FIS was quoted saying that "there is a much quieter tone than there was a few weeks ago. I think it's unlikely we will see a major rebound in the very short term at least. There is a lot of negative sentiment surrounding the Chinese steel sector and domestic demand. There is a slowdown in manufacturing growth in China, so those factors are weighing on market sentiment at the moment", Norfolk told Reuters. He added that although the capes have been sliding, they have found a little bit of support.
Imports of coal and iron ore by China, the world’s biggest user of the commodities, fell for two consecutive months, customs data show. Combined, the raw materials to make steel or generate power accounted for 54 percent of all dry-bulk goods carried at sea in the first quarter, according to estimates from Drewry Shipping Consultants in London. At the same time, the decline of South America’s grain export season has added further pressure at rates.
Meanwhile, there is increased fear that the looming oversupply of dry bulk vessels will continue to add pressure to the market in the coming months. According to Clarkson Research, the world dry bulk fleet is expected to grow by 16%, or 1,100 ships, while demand should increase by an equivalent of 634 vessels. Still, shipping industry players who took part in June’s Hellenic Shipping News Worldwide poll, said that the BDI will range between 3,000 and 4,000 points during the second half of the year. This answer came from 45.4% of the voters or 1,869 people in a total of 4,118 participants. Out of those, 22.9% or 943 votes were for the 3,000-3,500 limit, while an additional 22.5% or 926 votes were a bit more optimistic, placind the index at the range of 3,500 and 4,000 points.
Even more positive on the dry bulk market’s prospects were those 892 voters (21.7%) who predicted that the freight market will stay above 4,000 points, not to mention the overly optimistic who said it will surpass even the 4,500 point mark. They amounted to 467 or 11.3%. On the negative side were those 890 people (21.6%) who said that the market will stay within today’s range of between 2,500 and 3,000 points.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
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- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
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