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Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
 The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points versus the previous week. As a result, August’s monthly average is now at 2417 points, significantly improved over last month’s average of 1910 points. According to a weekly report prepared by N. Cotzias Shipping Group, the BDI is set to increase before year end and possibly peak beyond the 5,500 points mark. “For this increase to be effective some resistance levels have to be met and surpassed and some other conditions have to be met”. Commenting on this week’s performance of the market, the Piraeus-based shipbroker said that it was a mixed feeling week, a breather. “The larger capes and panamaxes suffered minor losses and the smaller supramaxes and handymaxes posted minor gains. Overall the general index fell and the overall sentiment is that the overwhelming increased was too rapid and had to correct somehow. Still there are many ships chasing lesser/fewer cargoes and this imbalance of the market is self]implicated and will sooner become far worse than better. Have owners been shooting at their own feet? Definitely yes!” the broker mentioned.
Still, the shipping markets seem to have regained a great share of the heavy losses encountered during the first two months of this summer period and “before August says “kalo xeimona” - a Greek traditional wish for a pleasant winter - to us, we will be in a positive situation where we recovered a great percentage share of the heavy losses in both the indices and actual daily freight hire. The shipping markets were greatly assisted, by the added momentum that were offered in the past 2 weeks by the Capes and the Supramaxes. However the underlying global market fundamentals still pose a great degree of an uncertainty level although overall the picture looks much better than 2 months ago. China has imposed their game rules in the iron/ore pricing agreement, and the country’s size and import appetite on its own have such great weight that they can and have brought the per tone prices to the desired levels. Russian grain exports embargo/ban went into action as from the 15th August until 31st December 2010, and the Russian exports will be limited to 60]65 million tones for 2010 as opposed to 97 million tones for 2009. This is a serious quantity reduction that will be needed to be shipped from alternative locations and this will definitely act positively on shipping freights as the per ton mile cost will increase. A notable slowdown in period and time charter fixtures was noticeable this week and a total of only 84 fixtures were recorded compared with 112 of last week” Cotzias said.
Meanwhile, in a separate report by shipbrokers Golden Destiny, last week ended with 29 sales reported in the secondhand and demolition market. The highest activity has been recorded in the newbuilding market with 48 orders reported in total. “The secondhand market has been marked with almost 52.17% negative yearly change with 11 vessels reported to have changed hands this week equalling a total amount of money invested around $185,800,000. In the demolition market, 18 vessels have been headed to the scrap yards of total deadweight 356,048 tons, while in 2009 14 vessels reported for scrap indicating a positive yearly change of around 28.5%. In the newbuilding market, 48 vessels reported to have been ordered equalling a total deadweight around 4,490,500 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 2,154,500 tons, with kamsarmaxes being the most popular vessel type. The Greek presence has been noticed this week in the secondhand market with 2 transactions, one in the handysize bulkcarrier sector and one in the MR tanker sector, and in the newbuilding market with 5 transactions, 1 in the kamsarmax bulkcarrier sector, 2 in the handysize bulkcarrier sector and 2 in the container handy sector. The cumulative amount invested by Greeks can be calculated only in the secondhand market, which was $ 11,000,000 , since in the newbuilding market the relevant information has not been disclosed” Golden Destiny concluded.
Source: Nikos Roussanoglou / Hellenic Shipping
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Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
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- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
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