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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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Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- The University of Queensland
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
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