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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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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- ASAPP Information Group - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
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