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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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Showing 5701 to 5705 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Australian Coal Association
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
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