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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
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