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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
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