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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, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
Wednesday, 10 August 11
KILLARA RESOURCES TO ACQUIRE SIX COAL CONCESSIONS OF TASON HOLDINGS
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
Wednesday, 10 August 11
RESOURCE NATIONALISM IS MAIN BUSINESS RISK FOR MINING SECTORS, E&Y SURVEY
Resource nationalism is top of the business risk list for mining and metals companies around the world, while supply capacity constraint issues cont ...
Wednesday, 10 August 11
INDONESIAN COAL MINING ASSOCIATION OPPOSES LOW-GRADE COAL EXPORT BAN
COALspot.com - The Indonesian Coal Mining Association (ICMA) frowns on and challenges the government plan to ban the low-grade coal export inf ...
Wednesday, 10 August 11
ABM INVESTAMA TO OFFLOAD 20% IPO
Integrated coal mining PT ABM Investama, affiliated company of Tiara Marga Trakindo Group, aims to dispose 20% stake during an initial public offeri ...
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- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
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