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