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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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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Parliament of New Zealand
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
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