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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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Thursday, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Planning Commission, India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
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