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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Planning Commission, India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- The University of Queensland
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
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