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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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Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
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- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- CNBM International Corporation - China
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
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