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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, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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 h ...
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- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
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