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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
 Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - the odds are clearly against the drybulk sector absorbing the current newbuilding orderbook. The size of the demand/supply mismatch will determine whether dry bulk shipping shall face a soft or hard landing. We all hope for a soft landing but we are bracing ourselves for a hard landing. Once bitten - twice shy!
In 2008, the BDI had reached 11,793 points on 20th May and it fell to 663 points on December 5th of the same year; the speed and the scale of this short-term "crisis" took the shipping industry by surprise. The recovery in 2009 has been also unexpected but welcome; restoring the confidence of all parties involved. Is what we are experiencing today "deja-vu"?
Some years ago, a charter rate of $18,000 per day for a modern panamax was considered to be very robust. Today, the same vessel is chartered at this level but, for some owners, this is NOT necessarily considered a good rate. In other words, we face the paradox that the current market can be interpreted at the same time good for some and modest or bad for other owners, depending on their investment position.
Although rates are well down from the high levels of recent years, historically they are still relatively good and should be profitable, so the market is not bad, but to those who have not been around for the last 20 years they seem low. We should not forget the fact that between 1985 and 2003, BDI ranged between 600 and 2,200 points....
It would be a shot in the dark to try and guess on where the market is heading. But, if the recent plunge of the Baltic Dry Index continues; it is almost certain that, at some point, vessel prices will be forcibly reduced to a level that will be in direct correlation with freight market conditions. Something similar to what the shipping market experienced at the beginning of 2009 - and who would want to lose out again on such a chance to buy low?
Chartering (Wet: Soft- / Dry: Weaker-)
No improvement was noted in the dry bulk market this week, as rates continued to fall across the board pushing the BDI to a more than 14 month low. The BDI today (13/07/2010) closed at 1,790points, a decrease of 50 points compared to Monday’s (12/07/2010) closure, and a drop of 337 points compared to last Tuesday’s levels ( 06/07/2010). Tankers also faced a second consecutive week of dropping rates as demand from the US and Far East continues to drop.
The BDTI, Monday (12/07/2010), was at 789, 35 points down and the BCTI at 812, a decrease of 6 points from last Monday’s levels (05/06/2010).
Chartering
With almost non existent activity noted in the iron ore trade and demand for coal remaining fairly weak, Capes continue on their downward spiral reaching now a more than 14 month low. The steep decline of the fall noted these past 2 months has severely depressed market sentiment making it hard for owners to fight of any further drop, while the large numbers of newbuilding deliveries entering the water every week provides charterers with more than ample tonnage to push rates down further.
Panamaxes continued to lose ground as activity is still at the low end especially in the North Atlantic. The was some improvement in the ECSA market as fresh cargo orders started to apear. However this seemed to be too little too late, as the number of prompt tonnage in the area provide charterers with the leverage they need to soften freight levels further.
A soft week for Handys as well in both the Pacific and Atlantic basins. The larger Supramaxes and Handymaxes mainly saw activity in ECSA as well as off India were some fresh enquiries started to appear. Smaller handysize vessels looked to perform worse this week as activity in the Black Sea/Cont regions dropped further.
Source: intermodal (by Tasos Papadopoulos)
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Monday, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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Showing 5701 to 5705 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- The University of Queensland
- Ministry of Finance - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
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