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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, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...
Thursday, 08 September 11
PETROSEA ADDS US$730 MIO CONTRACT
Coal mining contractor PT Petrosea Tbk (PTRO), a majority owned subsidiary of energy integrated company PT Indika Energy Tbk (INDY), has secured a U ...
Wednesday, 07 September 11
ANOTHER EXCEPTIONALLY STRONG WEEK FOR THE CAPESIZE MARKET - BRS
The very strong rise in Cape rates pushed through an overall improvement in the BDI this week, although relatively little benefit from the Capes has ...
Wednesday, 07 September 11
INDIA HIT BY INDONESIAS COAL PRICE - TEMPO INTERACTIVE
TEMPO Interactive, an Indonesian online news portal reported that, The Indian government has complained about the price increase of Indonesian coal, ...
Wednesday, 07 September 11
SAMPUR POWER AGREEMENT SIGNED - DAILY NEWS
Daily News, Sri Lank's national news paper reported that, the agreement for the setting up of a 500 MW coal-fired power plant at Sampur, Trincomale ...
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- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
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