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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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- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
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