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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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Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
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