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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, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
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