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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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Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
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