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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
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