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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, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
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- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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