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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, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
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