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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
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