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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Videocon Industries ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
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