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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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Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
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- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
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