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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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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- The University of Queensland
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
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