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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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Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
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- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
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