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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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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
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