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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
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