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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Australian Coal Association
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
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