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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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