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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
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