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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
 The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a high, as a result of increased iron ore buying from Chinese steel mills. The industry’s benchmark, the Baltic Dry Index, has now reached 2876 points, flirting with the 3,000 point mark once again. The yearly average for the BDI stands at 2905 points. According to the latest weekly report from N.Cotzias Shipping Group, the dry bulk market will end the year at even higher levels, with a potential to march forward even beyond the 5500 point mark. The broker says that “for this increase to be effective, some resistance levels have to be met and surpassed and some other conditions have to be met”.
For the time being, the main indices of the capesizes and the panamaxes edged forward this past week, with the first one gaining a rather impressive 15.19%, versus a more modest 4.8% of the panamax market. By contrast, the supramax end of the market retreated by 5.5% on a weekly basis.
“This week was a complete mirror image from last week. All red indices were green this week, and all green turned red. The larger Capes and Panamaxes showed some strong momentum and completed the four working day week 35 with a positive week to week comparison, while the smaller Supramaxes and Handymaxes made losses. As we mentioned this week was a shorter week, having only four working days in the calendar as Monday the 30th August was a Bank Holiday in the UK and the Baltic Exchange had no indices nor fixtures published, however that did not stop the weekly data to contain strong dynamics and a good number of interesting fixtures that we will go through further in this report” noted Cotzias.
He continued by commenting that the Capes sector has proven to us that it has a very great momentum and a volatility that is very prone to the intentions and attitudes of the Chinese. This volatility and momentum sometimes exceeds the true economic values of supply and demand that have to be met. China moves the index and this week many ships have “collected” in the Pacific areas to load for China. Ballast trips for Brazil to load iron/ore also observed. The monthly average for September for the BCI stands at 3839 points, and that is greatly higher than that of August 2010 which was calculated at 2983 points and even greater than July’s average that was 1969 points. The Yearly average for the BCI is calculated at 3443 points. 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 as we believe that owners been shooting at their own feet! The shipping markets we repeat, have regained a great share of the heavy losses encountered during the beginning of this summer. With China leading the recovery, we believe that we may well be posed for a positive September. 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” concluded Cotzias.
In a separate report, Golden Destiny said that the past week was characterized by a rather quiet movement in the newbuilding market. The highest activity has been recorded in the secondhand market with 17 transactions reported in total, posting around 55% increase since last week’s activity. “The S&P activity in the secondhand market upholds strong as summer season ends and we progress into the fall/winter period. Week 35/10 reminds the activity of last year’s weekly activity, with 17 vessels reported to have changed hands this week equalling a total amount of money invested around US$ 188,650,000, three secondhand transactions reported on private terms. In the demolition market, 9 vessels have been headed to the scrap yards of total deadweight 309,133 tons, while in 2009 13 vessels reported for scrap indicating a negative yearly change of around 31%. In the newbuilding market, 14 vessels reported to have been ordered equalling a total deadweight around 758,000 tons, one of the lowest newbuilding activities throughout 2010. It seems to be the first time that a lower newbuilding activity has been recorded comparable with the levels of similar week in 2009 when 10 newbuilding transactions were recorded. The wet sector has held the largest share of newbuilding contracts, equalling a total deadweight of 576,000 tons with no special trends to a particular vessel type. The Greek presence has been noticed this week only in the secondhand market with 2 transactions reported in the bulkcarrier sector equalling a total amount invested around US$ 46,500,000” concluded the broker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
Thursday, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
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- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
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