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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, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Meralco Power Generation, Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
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