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