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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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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
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- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Parliament of New Zealand
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- The University of Queensland
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
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