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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
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