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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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Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
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