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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
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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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- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
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