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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, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
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