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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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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Mjunction Services Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- VISA Power Limited - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
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