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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, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
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- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Heidelberg Cement - Germany
- The University of Queensland
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
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