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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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Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- The University of Queensland
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
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