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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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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Asmin Koalindo Tuhup - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
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- PTC India Limited - India
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- Eastern Coal Council - USA
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- Ambuja Cements Ltd - India
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- Power Finance Corporation Ltd., India
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- SMC Global Power, Philippines
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- Indian Energy Exchange, India
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- Marubeni Corporation - India
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- Directorate Of Revenue Intelligence - India
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- Essar Steel Hazira Ltd - India
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- Larsen & Toubro Limited - India
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- New Zealand Coal & Carbon
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- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Wilmar Investment Holdings
- Parliament of New Zealand
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- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
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- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
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- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
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- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
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- AsiaOL BioFuels Corp., Philippines
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- Wood Mackenzie - Singapore
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- Global Coal Blending Company Limited - Australia
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- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
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- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
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- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
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