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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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Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
Wednesday, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
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- Georgia Ports Authority, United States
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
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