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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
 The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a falling pattern since late May. Since then it has been steadily retreating for the year highs – and indeed its post-crisis highs – of more than 4,300 points, down to yesterday’s 2,018 points, the lowest level since May of 2009. Yesterday, the index lost an additional 5.12 percent, or 109 points, to 2,018 points in its 30th straight losing session. Both the capesize and the panamax segments have been suffering, losing further ground, by 7.17% and 5.02% respectively.
Shipbroker Fearnley’s latest weekly report, commenting on the capesize market said that average spot market levels have fallen some 20% to present some usd 19k over the last week - and whilst most players expect a recovery at some stage, there is no light at the end of the tunnel yet as tonnage keeps piling up for a very limited volume of fresh business. The continuing softening is particularly felt on the fronthaul trades, where ballasters have seen their daily income cut by some usd 8k to come in around usd 17k. The shorter rounds in Pacific are just slightly better off, standing at usd 16k after taking a usd 4k/day blow. No period fixing worthy of mention - even though several majors are there to secure tonnage for short/medium duration at almost 50% premium to spot levels”.
Similarly, on the panamax segment it said that “we have experienced a free fall in rates across the board for Panamaxes the last week. For the 28th day in row the BDI declined. The lack of cargoes compared to available ships causing owners to offer lower than what´s last done in order to secure employment. At the same time we see fresh cargoes in the market, but it is not sufficient. Many believe we will not see a turn in rates until the grain season in the US kicks off, and for now coal is the main driver with some sporadical grain and iron ore cargoes. Tarv now getting mid teens and trip to Far East was done at a healthy $26k.
In the Pacific round trip´s paying mid/high teens. In China the Shanghai Consumer Index took a beat after concerns for the Chinese economy and slow recovery of the global financial crisis and yesterday the Chinese government stepped into the market to help the economy further” the broker said.
Meanwhile, in a separate analysis by BIMCO’s shipping analyst Peter Sand points out to the slowing pace of the Chinese economic growth, as evidenced by the latest manufacturing indices.
“This development, should it be permanent, is on course to have repercussions into the demand for shipping tonnage going in and out of China. China Manufacturing purchasing managers’ index (PMI) released on 1 July by HSBC and Markit Economics fell to 50.4 in June, from 52.7 in May. Meanwhile a government PMI showed a slowdown to 52.1, from 53.9, both of them are indicating that manufacturing grew, but at a slower pace as compared to the month before.
Several key sub-indices from the Markit survey fell below 50 (a reading above 50 indicates growth), including output, new orders, new export orders, and both input and output prices. Prices coming down are reducing the overall inflation pressure on the economy and thereby the risk of overheating is coming a bit off. The indices were expected to drop as policies to curb lending to the red-hot property market continue to impact manufacturing negatively coupled with the European debt crisis spreading bad sentiment on business and bringing worries as to the sustainability of European recovery” BIMCO’s analysis said.
According to Peter Sand, “a more modest rate of growth in this leading indicator might affect global shipping sentiment and spread worries that China may be less of a driver in coming months than what we’ve been used to following the strong stimulus-driven recovery in China.
Slowing growth in the manufacturing sector is generally bad news for dry bulk, tankers and container shipping segments. As construction is an important part of manufacturing, dry bulk demand could slow further down in coming months”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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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 ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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 ...
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- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
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