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