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.
|
|
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
|
|
|
Showing 5726 to 5730 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- The University of Queensland
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
|
| |
| |
|
