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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
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