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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- The University of Queensland
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
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