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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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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Central Electricity Authority - India
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