We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
 The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) finally came to a halt, after 35 straight losing sessions, the longest in 15 years. It managed to pull up to to 1.720 points, with daily rates for capesizes, now at $12,495, now from almost three times this figure, back in late May, when the sector’s doom began. Earlier in the week, a report from shipbroker Fearnley’s has called the state of the capesize market the most dramatic in modern times. It also warned that China would remain quiet for some time. The panamax market managed to fare better during this downfall, having four straight rising sessions during the week. Panamax rates now command $16,839 on a daily basisi, while the even smaller in capacity Supramaxes can receive even higher fees of $17,448, an abnormality that should even out soon enough, as has been the case in similar scenarios in the recent past.
Most analysts seemed to agree that the market’s demise is now over, stating that the bottom of the barrel has been found. As always, the so called China “factor” showed its teeth, with Asia’s leading economy proving to be the most critical factor for the dry bulk market. Raising the question of whether the new foreign trade record recently set from China will support shipping demand, BIMCO’s shipping analyst, Peter Sand said that “China may not post a new export record in July, but the foreign trade data looks strong from a shipping point of view. Right now container ships are departing from China fully loaded with cargo left on the quay, due to lack of containers.”
Chinese import and export figures published Monday by Chinese customs show that gross foreign trade value attained USD 254.8 billion in June 2010, which is a new record monthly high. June also marked a new export record of USD 137.4 billion, emphasizing China’s position as the world’s largest exporter. But the strong export in recent months may be inflated by the forthcoming reduction in export tax rebates that may erode the competitiveness of some Chinese goods in a combination with a stronger Chinese currency.
Iron ore imports stayed relatively strong in June with 47.2 million tonnes being landed in China down 9.1% from May. But during first half of 2010 imports are still 4.1% higher y-o-y according to Chinese customs. Given the metal product export industry is reporting an expansion of new export orders a complete evaporation of Chinese demand is not likely to take place. Despite that some have linked the continued drop of the Baltic Dry Index with an ongoing slowdown in China. “That is definitely a part of the explanation but over-supply of tonnage remains to be the focal reason for falling freight rates. According to the latest BIMCO supply growth forecast the dry bulk fleet could grow as much at 15% in 2010, with Capesize seeing the largest growth”, added Peter Sand.
In the US: state of the market composite indicators ISM Service and ISM Industry revealed identical tendencies towards continued growth at a slower pace than previous month. It is worthwhile to notice that the sub-index for new service orders declined for the fourth month in a row, to 54.4 down from 57.1 in May. This reading is the lowest this year. Meanwhile in Europe, the European Central Bank decided to leave the interest rate unchanged at 1% as the bank expects the euro-zone to grow moderately and at uneven in an environment still characterized by great uncertainty.
Meanwhile during the week China revealed that its GDP grew by 10.3% y-o-y in second quarter 2010 down from 11.9% in Q1. Chinese industrial production also took a breather, as growth for the second quarter came in at 13.7% y-o-y. The slowdown was expected, as indicated by the monthly manufacturing PMI data previously released. Inflation also declined to 2.9% y-o-y in Q2.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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 - ...
|
|
|
Showing 5721 to 5725 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- MS Steel International - UAE
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
