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Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
 The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find room for support for yet another day. Yesterday, it tumbled by an additional 55 points or 2.23 percent, to 2351, marking its lowest point in nine months. In fact, even the recent standstill of the capesize market proved unsustainable, with the Baltic’s capesize index losing further ground yesterday, down by 1.95% to 2658 points. As for the panamax market, for a second straight session, it proved to be the “weakest link” retreating by 4.4% or 121 points to 2627. Average earnings for panamax vessels now stand to a mere $21,147, the lowest since October of 2009. The BDI has now extended its downfall to 26 straight sessions, which is the longest losing streak since August of 2005. It comes to show that China’s slowdown is having a tremendous impact on shipping rates, as the rest of the world hasn’t rebounded enough to keep ships afloat.
“We are at the moment finding ourselves with an over- tonnaged market,” Alex Gray, chief executive officer of Clarkson Securities Ltd., the freight-derivatives unit of the world’s largest shipbroker, said in an interview with Bloomberg yesterday. There’s “lower demand than we have seen at any stage this year.” In a separate report by Reuters, Peter Norfolk, research director with broker FIS was quoted saying that "there is a much quieter tone than there was a few weeks ago. I think it's unlikely we will see a major rebound in the very short term at least. There is a lot of negative sentiment surrounding the Chinese steel sector and domestic demand. There is a slowdown in manufacturing growth in China, so those factors are weighing on market sentiment at the moment", Norfolk told Reuters. He added that although the capes have been sliding, they have found a little bit of support.
Imports of coal and iron ore by China, the world’s biggest user of the commodities, fell for two consecutive months, customs data show. Combined, the raw materials to make steel or generate power accounted for 54 percent of all dry-bulk goods carried at sea in the first quarter, according to estimates from Drewry Shipping Consultants in London. At the same time, the decline of South America’s grain export season has added further pressure at rates.
Meanwhile, there is increased fear that the looming oversupply of dry bulk vessels will continue to add pressure to the market in the coming months. According to Clarkson Research, the world dry bulk fleet is expected to grow by 16%, or 1,100 ships, while demand should increase by an equivalent of 634 vessels. Still, shipping industry players who took part in June’s Hellenic Shipping News Worldwide poll, said that the BDI will range between 3,000 and 4,000 points during the second half of the year. This answer came from 45.4% of the voters or 1,869 people in a total of 4,118 participants. Out of those, 22.9% or 943 votes were for the 3,000-3,500 limit, while an additional 22.5% or 926 votes were a bit more optimistic, placind the index at the range of 3,500 and 4,000 points.
Even more positive on the dry bulk market’s prospects were those 892 voters (21.7%) who predicted that the freight market will stay above 4,000 points, not to mention the overly optimistic who said it will surpass even the 4,500 point mark. They amounted to 467 or 11.3%. On the negative side were those 890 people (21.6%) who said that the market will stay within today’s range of between 2,500 and 3,000 points.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
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