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Monday, 02 August 10
DRY BULK MARKET NEEDS TO FIND ADDITIONAL SUPPORT IN AUGUST
 The dry bulk market ended another week of rebounding, posting on Friday its 11th straight rise. Still, as analysts point out the rate of this rise has been modest, contrast to the series of decline that the industry’s benchmark, the Baltic Dry Index (BDI), showed during its downfall, when in 35 straight loss-making sessions it lost 60% of its value. Today, the market stands at 1,967 points, rising 1.29 percent on Friday.
Another positive fact was the continuous support that the capesize segment has been finding as of late. Now, average freight rates for capesizes stand at $ 14,965, higher than the $ 9,300 per day, reached in mid July. But, it’s still a very long and doubtful climb back at $ 55,000/day that those vessels had reached by late of May this year. Even so, it’s lagging severely from the smaller in size panamax ship type. Panamax vessels now earn $ 21,155 per day on average, which is a serious gap. According to remarks quoted by Reuters, made by Braemar Seascope, “the situation has been positive this week, although the atmosphere remains fragile due to uncertainty derived from the obvious scenario of lack of cargoes and an ever increasing oversupply of (capesize) ships.
Meanwhile, industry observers have been closely watching the situation in India, where the southern state of Karnataka, which stands for almost 20% of the country’s iron ore production, is looking to ban iron ore exports from ports, a move which if materialized, it could change trade patterns of iron ore trade. This would mean that shipowners could see more ore shipments from Australia and Brazil to China, a development that would affect freight rates, especially in the capesize segment, bringing more degree of support as a result of the longer ton-mile journeys.
In the second hand market, as well as the demolition front, things were pretty active last week. According to a weekly report from Piraeus-based shipbroker Golden Destiny, 20 sales were reported in the secondhand and demolition market. “The highest activity has been recorded in the newbuilding market with 44 orders reported in total. The secondhand market has been marked with almost 57% negative yearly change with 9 vessels reported to have changed hands this week equalling to a total amount of money invested around US$ 78,500,000, one enbloc tanker S&P transaction reported on private terms.
In the demolition market, 12 vessels have been headed to the scrap yards of total deadweight 693,369 tons, while in 2009 9 vessels reported for scrap indicating a positive yearly change of 33.3% In the newbuilding market, 44 vessels reported to have been ordered equalling to a total deadweight around 1,702,860 tons. The dry sector has held the largest share of newbuidling contracts with 24 bulkcarrier transactions equaling to a total deadweight of 1,505,860 tons, with kamsarmaxes being the most popular vessel type.
The Greek presence has been noticed this week only in the newbuilding market in the bulk carrier sector with no new orders placed but replacement of cancelled tanker orders, originally contracted at the end of 2007 and 2008, with kamsarmax bulk carriers. Chinese presence seems to start calm down and in the newbuilding market as only a 4 units order reported placed this week, for kamsarmax bulk carriers, in domestic yard for a total amount of money invested around US$ 134,000,000” Golden Destiny said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
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- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
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