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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
 The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise has been modest, contrast to the series of decline that the industry’s benchmark, the Baltic Dry Index (BDI), showed during its downfall, when in 35 straight loss-making sessions it lost 60% of its value. Today, the market stands at 1,967 points, rising 1.29 percent on Friday.
Another positive fact was the continuous support that the capesize segment has been finding as of late. Now, average freight rates for capesizes stand at $ 14,965, higher than the $ 9,300 per day, reached in mid July. But, it’s still a very long and doubtful climb back at $ 55,000/day that those vessels had reached by late of May this year. Even so, it’s lagging severely from the smaller in size panamax ship type. Panamax vessels now earn $ 21,155 per day on average, which is a serious gap. According to remarks quoted by Reuters, made by Braemar Seascope, “the situation has been positive this week, although the atmosphere remains fragile due to uncertainty derived from the obvious scenario of lack of cargoes and an ever increasing oversupply of (capesize) ships.
Meanwhile, industry observers have been closely watching the situation in India, where the southern state of Karnataka, which stands for almost 20% of the country’s iron ore production, is looking to ban iron ore exports from ports, a move which if materialized, it could change trade patterns of iron ore trade. This would mean that shipowners could see more ore shipments from Australia and Brazil to China, a development that would affect freight rates, especially in the capesize segment, bringing more degree of support as a result of the longer ton-mile journeys.
In the second hand market, as well as the demolition front, things were pretty active last week. According to a weekly report from Piraeus-based shipbroker Golden Destiny, 20 sales were reported in the secondhand and demolition market. “The highest activity has been recorded in the newbuilding market with 44 orders reported in total. The secondhand market has been marked with almost 57% negative yearly change with 9 vessels reported to have changed hands this week equalling to a total amount of money invested around US$ 78,500,000, one enbloc tanker S&P transaction reported on private terms.
In the demolition market, 12 vessels have been headed to the scrap yards of total deadweight 693,369 tons, while in 2009 9 vessels reported for scrap indicating a positive yearly change of 33.3% In the newbuilding market, 44 vessels reported to have been ordered equalling to a total deadweight around 1,702,860 tons. The dry sector has held the largest share of newbuidling contracts with 24 bulkcarrier transactions equaling to a total deadweight of 1,505,860 tons, with kamsarmaxes being the most popular vessel type.
The Greek presence has been noticed this week only in the newbuilding market in the bulk carrier sector with no new orders placed but replacement of cancelled tanker orders, originally contracted at the end of 2007 and 2008, with kamsarmax bulk carriers. Chinese presence seems to start calm down and in the newbuilding market as only a 4 units order reported placed this week, for kamsarmax bulk carriers, in domestic yard for a total amount of money invested around US$ 134,000,000” Golden Destiny said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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