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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 falling pattern since late May. Since then it has been steadily retreating for the year highs – and indeed its post-crisis highs – of more than 4,300 points, down to yesterday’s 2,018 points, the lowest level since May of 2009. Yesterday, the index lost an additional 5.12 percent, or 109 points, to 2,018 points in its 30th straight losing session. Both the capesize and the panamax segments have been suffering, losing further ground, by 7.17% and 5.02% respectively.
Shipbroker Fearnley’s latest weekly report, commenting on the capesize market said that average spot market levels have fallen some 20% to present some usd 19k over the last week - and whilst most players expect a recovery at some stage, there is no light at the end of the tunnel yet as tonnage keeps piling up for a very limited volume of fresh business. The continuing softening is particularly felt on the fronthaul trades, where ballasters have seen their daily income cut by some usd 8k to come in around usd 17k. The shorter rounds in Pacific are just slightly better off, standing at usd 16k after taking a usd 4k/day blow. No period fixing worthy of mention - even though several majors are there to secure tonnage for short/medium duration at almost 50% premium to spot levels”.
Similarly, on the panamax segment it said that “we have experienced a free fall in rates across the board for Panamaxes the last week. For the 28th day in row the BDI declined. The lack of cargoes compared to available ships causing owners to offer lower than what´s last done in order to secure employment. At the same time we see fresh cargoes in the market, but it is not sufficient. Many believe we will not see a turn in rates until the grain season in the US kicks off, and for now coal is the main driver with some sporadical grain and iron ore cargoes. Tarv now getting mid teens and trip to Far East was done at a healthy $26k.
In the Pacific round trip´s paying mid/high teens. In China the Shanghai Consumer Index took a beat after concerns for the Chinese economy and slow recovery of the global financial crisis and yesterday the Chinese government stepped into the market to help the economy further” the broker said.
Meanwhile, in a separate analysis by BIMCO’s shipping analyst Peter Sand points out to the slowing pace of the Chinese economic growth, as evidenced by the latest manufacturing indices.
“This development, should it be permanent, is on course to have repercussions into the demand for shipping tonnage going in and out of China. China Manufacturing purchasing managers’ index (PMI) released on 1 July by HSBC and Markit Economics fell to 50.4 in June, from 52.7 in May. Meanwhile a government PMI showed a slowdown to 52.1, from 53.9, both of them are indicating that manufacturing grew, but at a slower pace as compared to the month before.
Several key sub-indices from the Markit survey fell below 50 (a reading above 50 indicates growth), including output, new orders, new export orders, and both input and output prices. Prices coming down are reducing the overall inflation pressure on the economy and thereby the risk of overheating is coming a bit off. The indices were expected to drop as policies to curb lending to the red-hot property market continue to impact manufacturing negatively coupled with the European debt crisis spreading bad sentiment on business and bringing worries as to the sustainability of European recovery” BIMCO’s analysis said.
According to Peter Sand, “a more modest rate of growth in this leading indicator might affect global shipping sentiment and spread worries that China may be less of a driver in coming months than what we’ve been used to following the strong stimulus-driven recovery in China.
Slowing growth in the manufacturing sector is generally bad news for dry bulk, tankers and container shipping segments. As construction is an important part of manufacturing, dry bulk demand could slow further down in coming months”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- The University of Queensland
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Australian Coal Association
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
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