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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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Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- MS Steel International - UAE
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Economic Council, Georgia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Minerals Council of Australia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
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