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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- The University of Queensland
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
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