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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, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
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- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
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