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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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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Parliament of New Zealand
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