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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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Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
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- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- VISA Power Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
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