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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, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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