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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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Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
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- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
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