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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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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
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