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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, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
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