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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
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