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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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Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
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Showing 5716 to 5720 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
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