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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Planning Commission, India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
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