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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
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