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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Ambuja Cements Ltd - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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