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