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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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Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...
Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy
The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...
Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...
Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...
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- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
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