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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
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