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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
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