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