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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, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Bhatia International Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- White Energy Company Limited
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
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