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