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Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Yesterday, the BDI (Baltic Dry Index) lost 0.91% to reach 2,076 points. The index, considered a benchmark for the market, has been hovering around the 2,000 – 2,200 point mark during the past few weeks unable to edge any higher. Once again, it was the larger vessel segments that dragged the market down, as opposed to their smaller counterparts which kept leaping forward. The capesize segment lost 1.15% on the day, with average daily rates now down to $24,852, while panamaxes were down 1.44%.
The BDI is now at the lowest it’s been since early August, with market analysts not quite so optimistic about the rest of the year. In a comment quoted by Bloomberg, Shalini Shekhawat, a Gurgaon, India-based analyst at Drewry Shipping Consultants Ltd. said that “the dry bulk market is showing no signs of improvement. The remainder of of the year will be no better, with iron ore and grain trade being insufficient to absorb the over-supply of tonnage in the market” he said. Shipping rates have fallen 31 percent this year as new vessels entered the fleet. Capesizes will expand 24 percent in 2010, driving overall dry-bulk fleet growth of 17 percent, Clarkson Plc, the world’s largest shipbroker, estimates. Demand will grow 10 percent over the same time, Clarkson said.
In a separate weekly report, John Cotzias Shipping Group said that the past week was another non-decisive one, with the main motive being the total lack of any clear direction and trend. “We feel that going this way on our job as analysts becomes really dull and sometimes we feel practically “useless” as not being able to read and deduct any signals from the super volatile market fluctuations makes us just wonder how ill or not is the fate of the Dry Bulk markets? This week’s interesting moves were those of the Capes that made a small shortlived uprise towards the end of last week that momentarily gave us some happy thoughts that were quickly reversed as the index made 4 consecutive falls closing the week with a bitter after-taste.
The Panamax size segment has already added more fuel to the existing volatility and has altered the uncertain moving pattern to ups and downs that start now to fluctuate every 2-3 days!!!! It is rather odd that only the smaller sizes the Supramaxes and the Handysize ships are on a constant upward sloped pattern, and the Supras after 29 negative Baltic Exchange sessions are already counting 14 consecutive positive sessions and during the past three weeks have regained more than 23% of their strength. On a similar manner the smaller Handies have 13 positive sessions and this seems to be on a steady motive that may last during the week to come.
All large size segments were negative moving and the general Dry Index declined on the pressure produced by the large size segment’s weight. What is worth noting is the fact that all 5 indices produced their year highs during the forth-night of 19/5 until 2/6 and ever since then have all recorded losses of -50% up to -46%, a loss that is equal in percentage terms in all 5 indices despite their varying dynamics and differing level of volatility they portray.
As we mentioned last week too, China has lead the way forward and has given us some positive demand for cargoes and it is China that has generated the much needed and appreciated momentum being the steam engine that gave power to the dry bulk markets” concluded the Piraeus-based shipbroker and analyst.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
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