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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, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
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- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- CNBM International Corporation - China
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
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