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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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Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
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