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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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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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- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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