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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
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