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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, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- White Energy Company Limited
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
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