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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, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
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- PTC India Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Planning Commission, India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
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