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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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- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- The University of Queensland
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
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